Carlyle/Riverstone Global Energy and Power Fund III today announced that it has sold its interest in International Logging, Inc. (“ILI”) to Weatherford International Ltd. The Fund, along with Cherington Capital and management, acquired ILI in March, 2006. ILI subsequently made four acquisitions between 2006 and 2007. ILI provides oil/gas well-site geological logging services with principal offices in Asia, South America and Africa. Terms were not disclosed.
Greg Beard, a Managing Director at Riverstone Holdings LLC said, “ILI, a leader in its specialized field, is an outstanding company that proved to be an excellent investment. We wish Weatherford and the entire ILI management team continued success.”
Lehman Brothers acted as financial advisor to International Logging, Inc.