January 20, 2022 – Renovo Capital, LLC (“Renovo”) is pleased to announce a growth equity investment in Reynolds Lift Technologies (“Reynolds” or the “Company”) alongside its Founders Edward Curt and Kyle Meier. The Reynolds investment is indicative of Renovo’s commitment to technical product and service companies and to forming partnerships where our combination of industry experience and in-house resources can contribute to meaningful shareholder value creation.
Reynolds designs and manufactures cutting edge artificial lift equipment and specializes in permanent magnet motors (“PMM”) for electric submersible pumps. The Company’s products are sold primarily to operators and oilfield service companies. Their PMM is a significant technological improvement over induction motors and delivers increased production capacity and improved energy efficiency. The American Made Reynolds PMM offers unmatched power density in a package currently tailored to Permian Basin oil and gas wells. The combination of the power density and efficiency significantly reduce overall energy consumption and support oil and gas operator goals to reduce carbon emissions.
Edward Curt, CEO of Reynolds, commented, “We are excited to partner with Renovo. Their understanding of our core technology and its applications in the oilfield alongside their decades of experience scaling businesses, provides us the right partner at the right time in our business.”
Don Jungerman, Founding Managing Partner of Renovo, commented, “We are thrilled to partner with the Reynolds team at an exciting inflection point in the Company’s maturation and market adoption. Reynolds has built a unique business based on leading edge technology and great customer service. We look forward to building on this success together.”
About Reynolds
Reynolds Lift Technologies (www.reynoldslift.com), headquartered in Missouri City, TX, is a technology company focused on engineering and manufacturing cutting edge Permanent Magnet Motor solutions. Reynolds was founded in 2018 with the mission of disrupting the static artificial lift industry with the most power dense and efficient Permanent Magnet Motor solution. Reynolds is pushing the boundaries of lifting technology to drive production rates and efficiencies significantly beyond industry standards through downhole equipment and surface systems.
About Renovo
Renovo Capital is a Dallas, TX – based lower middle market private equity firm comprised of seasoned operating and investing professionals. Renovo makes control investments in technical businesses that have the potential to generate meaningful value through operational improvements and strategic initiatives. Since its founding in 2009, Renovo has completed over 30 transactions and raised over $400 million of committed capital.
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David Hull
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David.hull@renovocap.com