Michael McShane Joins Advent's Operating Partner Program
Advent International announced that Michael McShane has joined the firm's Operating Partner Program to advise on investment opportunities in the oil and gas services and equipment sector. Mr. McShane will work with Advent's deal team in the US, supporting the firm's investment activities globally.
Mr. McShane was previously the Chairman and Chief Executive Officer of Grant Prideco, the global leader in the development of drill stem
technology and the manufacture, sale, and service of drill pipes, drill bit technology and specialty tools. He served in this role for more than six years. During this time, Mr. McShane grew the company's revenues by over three times to $1.9 billion and the operating income by 11 times to $590 million through organic growth and acquisitions.
Mr. McShane left Grant Prideco in 2008 after its acquisition by National Oilwell Varco for $7.2 billion. Prior to joining Grant Prideco, Mr. McShane was the Chief Financial Officer of BJ Services, an international pressure pumping and oilfield services company. While at BJ Services, Mr. McShane helped grow the company from $350 million in revenues to $1.9 billion. He currently serves on the board of directors for two public companies, Complete Production Services and Spectra Energy, as well as two private companies.
David McKenna, Managing Partner and head of Advent International's North American industrials practice, said, "The oil and gas services
and equipment sector is an important area of focus for Advent globally. Mr. McShane's extensive experience and his impressive track
record in the sector will be extremely valuable to us, and we are very fortunate to have him on board. We look forward to working with him to
identify and develop the right investment opportunities."
Commenting on his new role, Mr. McShane said, "Advent has a long track record of successfully investing in a diverse range of companies
globally and supporting management teams as they drive revenue growth and improve earnings. I look forward to sharing my knowledge and
history with the investment professionals at Advent and with the management of portfolio companies in the oil and gas services and