Energy services company Proserv Group Inc. said May 14 that it was acquired by KKR & Co. LP and Oaktree Capital Management LP in a debt-for-equity exchange that includes an investment of $50 million.

As part of the restructuring, Proserv CEO David Lamont will step down. David Currie, who held positions as CEO of JDR Cable Systems and U.K. president for Aker Solutions, will assume the role.