eServices, Inc., a Richmond-based energy management company, has been acquired by AP Capital Partners, a private equity firm based in Orlando, Fla.

eServices provides a variety of services to businesses in the Southeast and Mid-Atlantic regions: buying and selling natural gas, natural gas storage, and natural gas transportation, both at current prices and in short-term, hedged price arbitrage. The company profits from identifying and capturing time and location differences in natural gas, gas storage and gas transportation pricing. Major clients include MeadWestvaco and Virginia Power Energy Marketing.

Management, which includes CEO Bruce McDaniel, retains a “meaningful ownership” in the enterprise. “McDaniel and the entire management team have a clear plan in place to continue their impressive growth,” said Richard Powell, managing partner of AP Capital Partners.

AP Capital Partners partnered with SPP Mezzanine, Patriot Capital, Spring Capital and Plexus Capital for the mezzanine financing. The press release was silent on how much, if any, capital was raised to finance eServices' expansion plans. More.