GEC Raises $214 Million Continuation Fund for Estis Compression

The deal led by Kline Hill will enable co-investors to sell their stakes in Estis, a provider of high-pressure artificial-lift services to oil-and-gas companies

WSJ • September 25, 2023

by Luis Garcia

Private-equity firm GEC has raised $214 million for a fund that will enable it to continue owning Estis Compression, a provider of high-pressure artificial-lift services for oil-and-gas companies, while letting co-investors in the business cash out.

Private-market investment firm Kline Hill Partners is the lead investor in the continuation fund, according to GEC. Greenwich, Conn.-based Kline Hill specializes in small and midsize secondary deals and earlier this year invested in a continuation fund for Presidio Investors-backed software provider Elevate Semiconductor…

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