One X Acquires United Energy Partners, Expanding Reach and Reinforcing Market Leadership in Serviceless Pressure Control Solutions
One X – A Completions Partner (“One X”), a portfolio company of Kingswood Capital Management, LP (“Kingswood”), announced today the successful acquisition of United Energy Partners (“UEP”), a highly respected provider of pressure control services and rental equipment for energy operators across the United States. The transaction marks a significant milestone for One X, reinforcing its position as one of the largest independent providers of serviceless (also known as greaseless) pressure control valve technology in the nation.
The acquisition aligns with One X’s long-term strategic goal of offering a comprehensive, high-performing, and scalable platform for completions services across multiple U.S. shale plays. With this transaction, One X further expands its operational footprint and strengthens its technological capabilities, particularly in the domain of high-efficiency pressure control solutions that are in growing demand among energy producers.
Strengthening the Foundation: What This Means for One X and the Industry
Headquartered in Houston, Texas, One X provides an integrated portfolio of completions services to leading international energy companies. These services include pressure control, flowback, drill-out, and well testing—critical components of the hydraulic fracturing and post-drilling processes in shale oil and gas production. Since its acquisition by Kingswood in October 2023, One X has aggressively pursued growth through investment in next-generation equipment, talent acquisition, and now, strategic M&A.
The decision to acquire UEP is driven by the shared vision between One X and Kingswood: to create a future-facing energy services provider that can adapt quickly to the evolving demands of the industry while delivering operational excellence. The acquisition not only increases One X’s geographic reach, but also provides access to UEP’s cutting-edge equipment and personnel with deep technical expertise.
UEP, based in Greeley, Colorado, has carved out a dominant position in the pressure control market by leveraging its proprietary serviceless valve technology. This innovative equipment is designed to reduce maintenance downtime, improve site safety, and optimize the overall efficiency of oil and gas operations. The company has grown rapidly by providing high-reliability equipment and services to operators in major production areas, including the DJ Basin, Permian Basin, Eagle Ford, Bakken, and Haynesville Shale.
A Natural Fit: Combining Operational Strength and Innovation
United Energy Partners brings to the table not only a strong presence in key producing regions, but also a reputation for technical excellence and innovation. Its serviceless valve technology has become increasingly popular due to its ability to enhance environmental safety, reduce lubricant waste, and lower the total cost of ownership for operators. These features align well with broader industry trends aimed at sustainability, automation, and efficiency.
The combination of One X and UEP is expected to create an unmatched platform for completions services, especially in the increasingly important niche of environmentally friendly, high-performance pressure control. One X will now operate one of the deepest fleets of serviceless valves in the United States—an asset that sets it apart from many of its competitors who continue to rely on traditional, grease-lubricated valves.
“We view this acquisition as a pivotal move in our journey to become the premier completions partner in the energy sector,” said James Stewart, CEO and Chairman of One X. “With the addition of United Energy Partners’ innovative equipment and highly experienced team, we’re not just scaling our business—we’re evolving it. Our customers are demanding more efficient, reliable, and environmentally conscious services, and we are now better equipped than ever to deliver on that demand.”
Retaining Talent and Continuity Amid Growth
One of the standout features of this acquisition is that United Energy Partners’ existing leadership team will remain onboard. Jake Strauss, UEP’s President and Founder, emphasized the cultural and strategic alignment between the two companies as a key reason for the deal.
“I’m thrilled to have the opportunity to partner with both One X and Kingswood, who have recognized the potential in putting these two businesses together,” Strauss said. “We’ve built UEP into a trusted name in pressure control by staying ahead of the technology curve and delivering exceptional service to our customers. Joining forces with One X allows us to scale those efforts and bring our expertise to a broader customer base.”
Retaining UEP’s management team is seen as critical for maintaining operational excellence during the integration phase and beyond. Their continued leadership ensures that existing customer relationships remain intact, while also creating a cohesive, collaborative team to pursue new business opportunities.
Kingswood Capital: Backing High-Growth Platforms
Kingswood Capital Management, based in Los Angeles, has a strong track record of identifying and growing companies with significant market potential. The firm specializes in transformational investments, often partnering with management teams to scale and optimize operations.
Clayton Lechleiter, Principal at Kingswood, noted: “One X is a best-in-class completions platform, and UEP has a deep fleet of new serviceless valves. We are impressed with the growth UEP has achieved by investing meaningfully in its asset base so that it can offer more efficient solutions for the evolving demands of its customers. This acquisition enhances the One X platform and helps us stay ahead of emerging trends in energy services.”
Kingswood’s commitment to the sector, paired with its operational expertise, positions One X for accelerated growth—both organically and through future acquisitions. Alex Wolf, Managing Partner and Founder of Kingswood, added, “Given the decades-long relationship James Stewart and I have developed during his tenure as a private equity-backed energy services CEO and our past successful collaborations, I am confident One X will be able to accelerate UEP’s growth and success.”
A Scalable Platform Poised for Expansion
The acquisition of UEP is expected to create immediate synergies for One X, including cost efficiencies, expanded service offerings, and cross-selling opportunities in newly acquired territories. The combined entity now possesses the scale, infrastructure, and technology to compete more aggressively with national and regional service providers.
Furthermore, the increased inventory of serviceless pressure control equipment positions One X to meet growing demand in unconventional resource plays, where operators are increasingly focused on uptime, environmental compliance, and cost efficiency. The enhanced portfolio enables One X to tailor solutions across a wide range of production environments.
