Clearlake Capital Group announced today that it has successfully closed its previously settled deal to acquired Archer Limited's North American Rental and Tubular Services subsidiary. The acquisition will be renamed as IronGate Energy Services. The transaction's financial details were not disclosed to the press.

As part of the rebranding, IronGate Energy Services will have Terry Keane, former president of Rental and Tubular divisions, as its president and chief executive officer. Founding partner at Clearlake Jose E. Feliciano and Clearlake vice president Colin Leonard will both join IronGate's new board of directors.

IronGate Energy Services will be headquartered in Houston, Texeas. The company is a provider of rental and tubular processes to businesses involved in the oil and gas exploration and productions sector. The scope of service remains in southern region of the United States.

"We are excited to partner with the management team and enable IronGate's growth as a highly focused, newly independent company," commented Feliciano.

"We believe that IronGate is an excellent platform for future acquisitions and is well-positioned to capitalize on the growth of the North American oil and gas market," he summed.