The Chemistry of Growth: Monomoy Acquires Creedence Energy Services

SALT LAKE CITY, UT – October 08, 2026

In the evolving narrative of the global energy transition, much of the public focus remains fixed on the deployment of novel renewable technologies. Yet, beneath the surface of America’s most prolific energy heartlands, a quiet but equally critical wave of innovation is sustaining the infrastructure that powers our present. The recent announcement that Tower Arch Capital has successfully exited its investment in Creedence Energy Services to Monomoy Capital Partners underscores a vital intersection of private equity, applied chemistry, and industrial asset integrity.

While the financial terms of the recapitalization remain undisclosed, the transaction signals a robust appetite among middle-market sponsors for specialized oilfield services. More importantly, it highlights a fundamental shift in the oil and gas sector: as major U.S. shale basins mature, the economic imperative has moved from relentless new drilling toward the meticulous optimization and protection of existing assets.

The Sponsor-to-Sponsor Playbook: Scaling a Founder-Led Vision

The trajectory of Creedence Energy Services serves as a textbook example of the middle-market value creation playbook. Founded in 2014 by Kevin, Wyatt, and Malachi Black, the company began as an independent provider of production and midstream chemical solutions. In 2019, Tower Arch Capital—a Salt Lake City-based firm known for targeting control investments in founder-owned businesses with EBITDAs between $8 million and $35 million—stepped in to partner with the founding team.

Over the ensuing seven years, that partnership transformed Creedence from a regional player into a national platform. The growth strategy was twofold: aggressive organic expansion paired with targeted add-on acquisitions. A notable milestone in this journey was the March 2021 acquisition of Prochem Energy Services, which significantly broadened Creedence's operational footprint and technical portfolio. Today, the company boasts more than 275 team members across 22 locations, serving over 200 customers and delivering an estimated 15 million gallons of chemical treatments annually.

"I am very proud of what the entire Creedence team has been able to accomplish since partnering with Tower Arch in 2019," said Creedence Co-Founder and CEO Kevin Black. "Tower Arch has been instrumental in supporting us through several strategic and tactical initiatives such as add-on acquisitions and system implementations and upgrades, all while being great partners to Creedence. I'm very grateful to have found a group that could help take us to the next level while positively impacting our people and culture."

For Tower Arch, the exit represents the culmination of a successful investment lifecycle, adding to a recent string of active portfolio management that includes the recapitalization of Velocity IT and the exit from CCI Network Services earlier this year.

David Parkin, a Partner at Tower Arch, reflected on the partnership's success: "We are very grateful for the trust of the Black Family, the Turner Family, and the entire Creedence team. Creedence's capabilities and commitment to exceptional service and safety are truly differentiated in the industry and are the foundation of its remarkable performance."

Adding to this sentiment, Tower Arch Partner Ryan Stratton noted, "Creedence is representative of Tower Arch's focus on partnering with and growing family- and founder-led businesses to help them achieve their full potential while delivering superior outcomes for our investors. We are excited to see what Creedence accomplishes next."

The Strategic Imperative of Asset Integrity

To understand why a firm like Monomoy Capital Partners—which manages over $5.3 billion in assets and typically invests across manufacturing, distribution, and services—is pivoting into oilfield chemicals, one must look at the operational realities of the modern oilfield.

Creedence operates primarily in the Bakken, Permian, Anadarko, Haynesville, San Juan, and Powder River Basins. These regions are the engines of U.S. energy independence, but they are aging. As shale wells mature, they produce higher volumes of water alongside hydrocarbons, increasing the risk of severe corrosion, scaling, and paraffin deposition. Left untreated, these issues can choke production, rupture midstream pipelines, and cause catastrophic failures at saltwater disposal facilities.

This is where formulated chemistry becomes a critical operational safeguard. Production chemicals are no longer viewed as a variable expense to be cut during downturns; they are recognized as essential insurance policies for multi-million-dollar infrastructure. By deploying customized chemical programs tailored to the specific geological and fluid characteristics of individual wells, service providers like Creedence ensure that existing assets remain viable, safe, and cash-generative.

Industry analysts have consistently noted that while volatile crude oil and natural gas prices can cause dramatic fluctuations in new drilling activity, the demand for production chemicals remains remarkably resilient. Operators are financially incentivized to maximize the output of their existing wells, making asset integrity a highly defensive, counter-cyclical investment thesis.

Navigating Headwinds with Customized Chemistry

The landscape of oilfield services is not without its challenges. Heightened environmental scrutiny and evolving regulatory frameworks require chemical providers to continuously innovate. The days of applying generic, off-the-shelf solvents are largely over. Today's operators demand proprietary formulations backed by advanced laboratory testing and responsive, localized field service.

Creedence has navigated these headwinds by positioning itself at the intersection of chemical engineering and localized logistics. By maintaining 22 strategic locations across major basins, the company ensures that its technical teams can rapidly diagnose fluid anomalies and deploy tailored treatments. This localized approach not only optimizes production performance but also minimizes the environmental risks associated with pipeline leaks or equipment failures.

Furthermore, the broader push toward energy security has provided a sustained tailwind for domestic production. Even as the global economy gradually transitions toward renewable energy sources, the maintenance of existing fossil fuel infrastructure will remain a necessity for decades to come. Specialized chemical providers are the linchpins of this transitional period, ensuring that the legacy energy grid operates as cleanly and efficiently as possible.

Monomoy’s Roadmap for the Future

As Creedence transitions to the Monomoy Capital Partners portfolio, the strategic focus shifts from initial institutionalization to expansive market consolidation. Monomoy has a proven track record in value-added specialty chemicals distribution and business services, making Creedence a natural fit for its operational expertise.

Market observers point to Monomoy’s intent to leverage Creedence as a platform for further industry consolidation. The middle-market oilfield chemical sector remains highly fragmented, populated by numerous regional, founder-operated businesses. Monomoy and the Creedence leadership team are reportedly actively evaluating additional partnerships and add-on acquisitions to expand the company's geographic footprint and technical capabilities.

Continuity remains a central theme of the acquisition. Kevin Black will retain a significant ownership interest and will continue to lead the business alongside the existing management team. This ensures that the deep customer relationships and institutional knowledge forged over the past decade remain intact.

Advisors on the transaction—including KeyBanc Capital Markets and Gibson, Dunn & Crutcher LLP for the sellers, and Ropes & Gray LLP for Monomoy—helped navigate a deal that ultimately reflects the maturation of the oilfield services sector. It is a sector where long-term value is increasingly derived not just from the extraction of resources, but from the highly specialized, chemically driven preservation of the infrastructure that makes that extraction possible.