Houston, TX |
ATLANTA (July 10, 2023) – Resurgens Technology Partners, a software-focused private equity firm, today announced its platform investment in Detechtion, a leading provider of real time asset performance management solutions.
Headquartered in Houston, Texas, with offices in San Luis Obispo, California; Calgary, Alberta; and Brisbane, Australia, Detechtion was founded in 1999 with the mission to improve field asset performance and field workforce efficiency for energy companies. The company offers a complementary suite of products including remote asset monitoring, asset performance management, and field service management technologies which enable energy companies to drive efficiency in their field operations.
“Detechtion has established itself as a market leader in natural gas compression monitoring and optimization, serving as a trusted partner to some of the world’s leading gas producers and oilfield service providers. We look forward to helping the company expand its suite of solutions to serve the oil and gas market more deeply, as well as leverage their existing capabilities in new industrial segments facing similar asset monitoring and optimization challenges,” said Resurgens Managing Director, Fred Sturgis.
“Resurgens’ hands-on approach, expertise in product expansion, and track-record of scaling vertical software businesses made them the right partner for us in this next chapter of Detechtion’s growth,” said Detechtion CEO Chris Smith. “Detechtion has been at the leading edge of oilfield digitalization, and we see a breadth of opportunities to serve our customers more holistically. With this investment from Resurgens, we will continue to expand the ways we help our customers drive increasing output, bring greater efficiency to their field operations, and reduce emissions.”
Detechtion is Resurgens’ sixth platform investment in the firm’s $500 million second fund and represents a continuation of the firm’s strategy to invest in the growth of vertical software companies that are leaders in their market segments.
AGC Partners served as financial advisor to Detechtion.
