Business News

AP Capital Partners Acquires eServices

2008-07-17 09:28:00

    ORLANDO, Fla., July 17 /EMWNews/ -- AP Capital Partners (APCP), a

private equity firm that takes long-term assignments in exceptional

enterprises, announced today that it has successfully completed the asset

purchase of eServices, Inc. (, a leading energy

management company, based out of Richmond, Virginia.

    eServices is one of the fastest growing business enterprises in the US,

and provides a variety of management services to natural gas marketers,

utilities, small and mid-sized commercial/industrial firms and producers in

the Southeast and Mid-Atlantic regions. eServices buys and sells natural

gas, natural gas storage, and natural gas transportation, both at current

prices and in short-term, hedged price arbitrage. eServices profits from

identifying and capturing time and location differences in natural gas,

natural gas storage, and natural gas transportation pricing. Major clients

include MeadWestvaco, Virginia Power Energy Marketing and many others.

    "We are extremely excited to bring eServices into the APCP portfolio,"

said Richard Powell, Co-founder and Managing Partner of APCP. "Not only

does eServices have a brilliant performance record, but, Bruce McDaniel and

the entire management team have a clear plan in place to continue their

impressive growth, while providing excellent service and driving

significant value to their Fortune 1000 clients".

    "We have found outstanding financial partners in APCP," added Bruce

McDaniel, CEO of eServices. APCP reports that both seller and management

hold meaningful ownership in the enterprise. The firm partnered with SPP

Mezzanine, Patriot Capital, Spring Capital, and Plexus Capital for the

mezzanine financing.

    About AP Capital Partners, LLC

    APCP is a private equity firm that undertakes long-term assignments in

exceptional enterprises. The firm's goals are to dramatically improve

financial performance, deliver best-in-class products and services, and

create environments for employees. APCP delivers strong relationships, a

true partnership approach, and effective execution to outstanding

middle-market enterprises. The APCP team includes highly successful

financiers, institutional investors, and entrepreneurs. For additional

information, please visit

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