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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE HM Capital buys TriDimension Energy25/04/2008. Source: AltAssets. 
HM Capital Partners has acquired Dallas-headquartered oil and gas exploration company TriDimension Energy for an undisclosed amount. As part of the transaction, the company's management team will reinvest a substantial portion of its proceeds to acquire a minority stake alongside the Dallas-based private equity firm. TDE's focus is on finding oil in existing fields and redeveloping historic fields by restoring wells to production, recompleting wells in previously tested reservoirs and aggressively drilling new wells.
Following the transaction, CEO James P Ryan will continue to lead TDE.
HM Capital partner Jason Downie said, 'The acquisition of TriDimension Energy reflects the continued execution of our upstream strategy of investing in lower-risk, exploitation-based oil and gas companies. TDE's experienced management team, with its solid industry relationships, has positioned the company for continued growth through internal initiatives and acquisitions. We look forward to partnering with Jamey Ryan and his team to capitalise on these opportunities to establish TDE as a leader in its markets.'
The acquisition of TDE is the fifth investment by HM Capital's Sector Performance Fund.
Other recent HM Capital energy investments include Regency Energy Partners, TexStar Field Services and BlackBrush Oil & Gas.
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