BP Energy Partners Announces the Sale of MIRATECH, a Market Leader in Emissions Reduction Technology & Compliance Solutions

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Sep 04, 2024, 08:00 ET

DALLAS and TULSA, Okla., Sept. 4, 2024 /PRNewswire/ -- BP Energy Partners, LLC ("BPEP"), a Dallas, Texas based investment manager, has closed on the sale of MIRATECH Corp. ("MIRATECH" or "the Company"), a portfolio company of BP Natural Gas Opportunity Partners II, L.P.

Founded in 1992, after the passage of the 1990 Clean Air Act, MIRATECH has emerged as the North American market leader in providing cost-effective, technologically advanced emissions control and compliance solutions to the power generation, energy infrastructure, industrial, OEM and marine markets.

Over the term of BPEP's partnership, MIRATECH's differentiated engineering capabilities and domain expertise in stationary power generation, compression, and data centers have enabled the Company to scale and successfully meet the strong demand for emissions reduction solutions within distributed power, critical data infrastructure, and other hard-to-decarbonize sectors including energy infrastructure, marine, and construction.

"As the global economy becomes more data-driven, energy and power demand continue to grow beyond existing grid capabilities, highlighting a need for practical solutions that provide security, redundancy and reliability," said Dennis Hamilton, Managing Director at BP Energy Partners. "MIRATECH's solutions have proven critical in addressing emissions challenges across energy and energy-intensive industries. It has been a pleasure partnering with MIRATECH to support their growth and commitment to addressing these challenges."

"We are proud of the entire MIRATECH team for building a world-class energy transition business focused on delivering highly engineered emissions solutions with technical and regulatory expertise," said Michael Watzky, BP Energy Partners' Co-Founder and Managing Partner. "We wish them continued success in their new partnership with a premier sponsor."

"MIRATECH is extremely proud of what we've accomplished and built over the term of our partnership with BP Energy Partners," said David Zenthoefer, CEO of MIRATECH. "We enjoyed working closely with the BPEP team who immediately understood and supported our vision for growth across our dynamic and evolving end markets. We're excited to continue to serve the growing future needs of global emissions reduction."

Baird acted as financial advisor, and The Garden Law Group and Locke Lord LLP served as legal counsel to BPEP and MIRATECH in connection with the transaction.

About MIRATECH

MIRATECH is a North American market leader in emissions reduction technology and compliance solutions. MIRATECH is headquartered in Tulsa, OK with additional manufacturing capacity Houston, TX, Prior Lake, MN, Knoxville, TN, Winnipeg, Canada, and Sinntal, Germany. The company's core mission is to improve the environment by providing engineered solutions that reduce air and noise pollution. Their product and service expertise lies in significantly reducing or eliminating key criteria pollutants such as Carbon Monoxide, Oxides of Nitrogen, Hydrocarbons, Particulate Matter, VOCs, Hazardous Air Pollutants (HAPs), Air Toxics, and various other pollutants from the environment.

About BP Energy Partners

BP Energy Partners is a Dallas, Texas based lower-middle market private equity firm that invests alongside entrepreneurs, family-owned businesses, and companies through growth equity and buyout transactions. The firm focuses on energy and energy-intensive industries and companies that generate returns and reduce emissions. Investment themes include Value-Add Infrastructure, the Natural Gas Value Chain, Electrification, and Environmental Management. Founded in 2013 and initially sponsored by T. Boone Pickens, BPEP manages over $600 million in committed capital. For more information, visit www.bpenergypartners.com.

SOURCE BP Energy Partners