Greenwich hedge fund manager Annapurna Capital Management LLC said it has sold its Oklahoma-based hydraulic fracturing business.
The buyer of Cimarron Acid and Frac is Texas-based Quintana Energy Partners.
Terms of the transaction were not disclosed.
Annapurna, which acquired a majority stake in Cimarron in Sept. 2013, will remain a minority shareholder.
ADVERTISEMENT
Annapurna said Cimarron’s earnings before interest, taxes, depreciation and amortization grew 250 percent in the 16 months it had majority ownership.
