Pine Brook, an investment firm focused on building businesses in the energy and financial services sectors, today announced it has led a Line of Equity financing arrangement for Accelerate Resources Holdings, LLC ("Accelerate" or "the Company"). Accelerate is a new energy company pursuing high quality assets in the most prolific oil and gas basins in the United States. The Dallas-based company will focus on non-operated working interest and leasehold acquisition opportunities.
Accelerate is led by President & CEO Brennan Potts, an experienced energy executive and entrepreneur. Previously, he led business development for several private equity-backed oil and gas companies with primary operations in the Eagle Ford and Mid-Continent region. Before founding Accelerate, Potts was part of the team that started and built Titanium Exploration Partners.
Potts is joined by co-founders Mickey Friedrich, Tom Deen, Kenny Worrell and Patrick George. Accelerate's management team brings strong industry experience from companies such as Pioneer Natural Resources, RSP Permian and Energy Spectrum.
"Pine Brook is excited to partner with the Accelerate management team, as we believe they bring together the right experience and multi-disciplinary skill set to take advantage of the growing capital dislocation facing E&P businesses today," said Rich Aube, managing director and head of energy at Pine Brook. "Throughout their successful careers, Brennan and his team have cultivated a strong network of relationships that will prove invaluable as they identify investment opportunities."
"The Accelerate team and I are very excited to launch our business with Pine Brook, as their investment expertise and track record of growing leading oil and gas companies will contribute substantially to our future success," said Potts. "Accelerate is well-positioned to capitalize on a tremendous opportunity set in today's E&P market."
Pine Brook targets investments in new and growing companies in the financial services and energy sectors. The firm typically finances these businesses with equity rather than debt, and often uses a line of equity funding structure in which a multi-year business plan is matched with a long-term capital arrangement.
About Pine Brook
Pine Brook is an investment firm that manages more than $6.0 billion of limited partner commitments that makes "business building" and other equity investments, primarily in energy and financial services businesses. Pine Brook's team of investment professionals collectively has over 300 years of experience financing the growth of businesses with equity, working alongside talented entrepreneurs and experienced management teams to build businesses of scale without relying on acquisition leverage. For more information about Pine Brook, please visit the company's web site at www.pinebrookpartners.com.