Houston – Global Oilfield Services (“Global”) today announced that it has signed a definitive agreement to acquire the Green Country Submersible Pumps business of Green Country Supply, Inc., a subsidiary of Chaparral Energy, Inc. RBC Capital Markets Corporation served as the exclusive financial advisor to Global in this transaction. Closing is expected by the end of the second quarter.

“The signing of the definitive agreement marks a major step in our strategy to build a best-in-class artificial lift products and services provider, specifically in the manufacture, supply and service of electrical submersible pumps,” said Wayne Richards, President and CEO of Global Oilfield Services. “Green Country employs some of the best people in the artificial lift business and deploys high-quality and competitive systems that will be further developed with investment from Global. This will provide an enhanced value to our customers and to our stakeholders.”

As part of the funding source for the acquisition, Global has reached agreement for a line of equity from Pine Brook Road Partners LLC (“Pine Brook”). Under the terms of the agreement, Pine Brook will provide up to $100 million of funding over time.

“The opportunity to partner with Pine Brook – a private equity firm comprised of high-caliber investment professionals and a demonstrated track record in the energy industry – is a significant milestone in the development of our company,” said Richards. “The timing of this partnership within the current economic cycle provides further validation of our thesis that the onshore production services market offers significant and long-term growth prospects despite the recent downturn in drilling activity.”

“Wayne Richards along with Executive Vice President and CFO Stuart Spence and the entire team at Global have the vision, experience and expertise to make this a successful partnership,” said Howard Newman, President and CEO of Pine Brook. “Our investment in Global is consistent with our practice of providing growth capital to exceptional management teams and companies with scale in the energy sector.”

Pine Brook Road Partners, LLC, is a New York-based private equity firm established in 2006 by a team of experienced private equity professionals to make business building and other equity investments, primarily in the energy and financial services sectors, where the firm’s partners have more than 100 years of combined experience. The firm typically backs experienced management teams in building businesses that have the potential for significant long-term capital appreciation.

In a related move, Global has added Pine Brook Managing Directors Arnold Chavkin, Michael McMahon and investment professional Alex Bell to its board of directors. Former Global directors Peter Goode and Victor Grijalva will continue to serve on the board.

Global Oilfield Services manufactures, installs and services artificial lift equipment for the domestic and international onshore production market. Led by Wayne Richards (President and CEO) and Stuart Spence (Executive Vice President and CFO), the company has the backing of the foremost industry leaders.

Global Oilfield Services also owns and operates International Tool & Supply (ITS). Through representation arrangements with leading product suppliers, ITS has a 51-year history of servicing the oil and gas industry with artificial lift equipment and surface instrumentation and measurement systems. ITS operates in the United States, Mexico, Venezuela and Peru.