Blue Point Capital Partners has sold its interest in LineStar Services Inc., a provider of integrity, maintenance and construction services to midstream operations in the oil and gas industry.
Blue Point’s interest was sold to LineStar Integrity Services LLC, a portfolio company of energy focused private equity firm, First Reserve. Sale terms were not disclosed.
While partnered with Blue Point, Houston-based LineStar completed four acquisitions that expanded its footprint and broadened and diversified its customer base and service offering. The company also opened four greenfield sites to support expansion.
“Blue Point and the management team partnered to create a platform for acquisitive and greenfield growth in the midstream energy sector and scaled the business with significant investments in personnel, technology and process,” Blue Point partner Sean Ward said in a statement.