Private equity firm Intervale Capital LLC announced the sale of TorcSill Foundations LLC to a newly formed entity largely owned by White Deer Energy.
Financial terms of the transaction have not been disclosed.
Tim Swift, CEO of TorcSill, will continue to oversee the business under new ownership.
Harris Williams and Kirkland & Ellis acted as advisers to TorcSill and Intervale Capital, while Locke Lord advised White Deer for the sale.
TorcSill, a portfolio company of Intervale Capital Fund III LP, provides products that give support in deep foundations across the energy, industrial and power end markets.
Intervale Capital invests in middle-market energy and infrastructure products and services.