NEW YORK, September 28, 2023 – Proskauer, a leading international law firm, announced today that it advised GEC, an energy technology focused growth private equity firm, on the formation and closing of a $215 million single-asset continuation fund transaction involving one of its portfolio companies, Estis. The oversubscribed fund is capitalized by a consortium of new institutional investors and provides liquidity to long-standing investors in Estis. The new investors subscribed through a vehicle managed and controlled by GEC.

GEC acquired Estis, a pioneer and market leader of High Pressure Gas Lift (“HPGL”), a disruptive artificial lift technology, in 2019. Since then, Estis’ EBITDA has grown by 5x, driven by exponential adoption of its HPGL technology.

The Proskauer team advising GEC was led by partners Christopher Robinson and Chip Parsons, associates Blake Halperin, Cameron Clark, Joseph Salvatore, Bianca Tomassini and Andrew Mackinlay (Private Funds); partners Lauren Boglivi and Simon Sharpe and associates Lauren Kim and Francie Kelley (Mergers & Acquisitions); partners Jeremy Naylor and Janicelynn Park and associates Brianna Reed, Tyler Moser and Julia Varoutsos (Tax).

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