One X acquires Windsor-based United Energy Partners

WINDSOR — One X, an energy-services provider backed by Kingswood Capital Management, has acquired United Energy Partners LLC, a Windsor-based company that provides pressure-control devices to energy operators.

The acquisition makes One X one of the largest independent operators of serviceless (greaseless) pressure control valves in the country, with operations across the Permian Basin, DJ Basin, Eagle Ford Shale, Bakken Shale and Haynesville Shale.

United Energy Partners provides pressure control equipment services and rentals by using serviceless valve technology, working across Colorado, Texas, Utah, Wyoming, North Dakota and New Mexico. Existing UEP management will remain with the company to expand its service offerings and geographic reach, the companies said in a press release.

Houston-based One X provides pressure control services, flowback, drill-out, and well-testing services to several major international energy operators. It was acquired by Kingswood Capital Management in October 2023. Acquiring UEP will expand One X’s geographic reach and technology portfolio.

“One X’s acquisition of United Energy Partners creates the scaled serviceless pressure control equipment provider in the U.S. and puts the combined companies in a tremendous position to serve our growing list of customers across a larger footprint,” James Stewart, CEO and chairman of One X, said in a statement. “We are excited to partner with the UEP team to help fuel the next stage of growth at One X, as we continue building a company that offers a comprehensive suite of market-leading completions services.”

Goodwin Proctor, Werner Ayers & McDonald, PPHB, and Grant Thornton advised One X on the transaction.

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