Monday, February 24, 2014

Oildex Gets Funding From Accel-KKR

Transzap, the parent firm of oil and gas information software developer Oildex, said this morning that it has received a majority equity investment from Accel-KKR. Financial details of the investment were not disclosed. According to Transzap, the company will use the funding to support strategic growth. Oildex develops data exchange and process automation software used by oil and gas companies, and has operations in both Houston and Denver. Transzap is led by Richard Slack. The companies said that Joe Porten of Accel-KKR joins the board of directors at Oildex. Transzap was advised by Vaquero Capital in the deal.