Westward Partners Acquires Frog Lake Oilfield Services

SEATTLE, WA, March 13, 2017 - Westward Partners ("Westward"), today announced the acquisition of the of Frog Lake Oilfield Services Ltd. ("FLOS" or the "Company") by its portfolio company, DLM Oilfield Enterprises Ltd. ("DLM"). Headquartered in Elk Point, Alberta and owned by the Frog Lake First Nation ("FLFN"), FLOS is a leading provider of oilfield services on the Native Land of the Frog Lake people. FLOS provides similar services to DLM, in addition to, road maintenance and a service rig for oilfield companies. The acquisition is highly strategic for DLM as it brings the FLFN into DLM as minority shareholders and business partners going forward. DLM acquired 100% of the assets of FLOS and issued shares to FLFN.

"The acquisition of FLOS' assets provides for a highly strategic minority shareholder and business partner as well as providing DLM with an expanded list of services and key customer relationships" said Westward Founder and Partner, Erik Tolzmann. "Despite the continued oilfield downturn, DLM is opportunistically looking for strategic acquisitions, which can be accretive to profitability and increase DLM's growth trajectory as the oilfield services market stabilizes."

About DLM Oilfield Enterprises

Headquartered in Bonnyville, Alberta, DLM is one of the largest independent well-site maintenance companies in Northeast Alberta. Founded in 2000, DLM provides a diverse array of non-discretionary, recurring maintenance oilfield services to cold heavy oil production with sand facilities, including tank cleaning & maintenance, tank and pipe sand removal and disposal (“de-sands”), rod pulls, waste removal, flow line pushes, well loads, mud hauling, site cleanup and other various rig services or pressure work.

About Westward Partners

Westward Partners is a private equity firm created to address the needs of lower middle-market companies with revenue up to $75 million and EBITDA up to $10 million, companies traditional private equity firms typically overlook. Westward partners with strong management teams in closely-held businesses to build value for its investors, its portfolio company employees, and the executives it works with.