By Houston Business Journal

Houston private equity fund White Deer Energy LP has made a $52-million cash infusion into O-Tex Pumping LLC and an affiliate.

The investment includes a $42-million purchase of existing equity and $10 million to acquire newly issued shares.

Headquartered in Duncan, Okla., O-Tex is touted as the largest independent provider of downhole cementing services to the Texas and Oklahoma oil industry. The company, with 165 employees, was formed in 2008. It expanded to Arkansas and Louisiana in 2009, and relocated its Louisiana office to Carthage, Texas, in 2010 to begin pumping services for the East Texas area.

The company plans to use its share of the proceeds to expand its cement pumping truck fleet and to finance the opening of additional locations.

White Deer has $821 million of committed capital in its White Deer Energy Fund LP, which raised about $200 million in 2010, according to Dow Jones Venture Source.

Copyright 2011 American City Business Journals

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