(TORONTO, July 30, 2014) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have made an investment in M&M Resources Inc. (“M&M” or the “Company”) of Fort Nelson, British Columbia (“BC”).
M&M is a leading energy services business focused on the oil and gas industry in northeast British Columbia and northwest Alberta. The Company services these geographies via locations in Fort Nelson and Fort St. John, BC. M&M’s veteran operators and extensive, well-maintained equipment fleet provide best-in-class land-clearing and trucking services. M&M provides these services for seismic land clearing, infrastructure, pipeline and well site development. M&M is well positioned in a region where international energy companies have made significant investments to access the prolific natural gas fields in the Liard, Horn and Montney basins.
“We have experienced material development in the region, due in part to the potential of liquefied natural gas (“LNG”) production on the West coast of Canada, and we look forward to our new partnership with Ironbridge. We believe that the Ironbridge team is well suited to support the growth of our business,” said Mike Barrette, President of M&M. “Ironbridge has demonstrated a proven track record of working with owner-operators and giving them the resources to grow. Ultimately, we believe this alliance will allow us to continue to provide superior service and scale to all of our First Nations partners and blue chip E&P customers.”
“We look forward to this new partnership with Mike and the M&M management team and believe the group has the experience and skill set to continue to develop and grow this business,” said Jeff Murphy, Partner at Ironbridge. “Mike and his team are ambitious and motivated to succeed –we are anxious to start working as a team on the next set of growth initiatives.”
M&M is the third investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.
Ironbridge’s team of seven professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.
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