Black Bay Partners

Black Bay Partners is a dynamic lower middle-market private equity firm that specializes in providing strategic growth capital investments within the energy industry and related chemical and industrial sectors. The firm is committed to collaborating with visionary companies to develop complex solutions that make the sourcing, delivery, and consumption of energy cleaner, safer, more reliable, and more affordable. They focus on innovative products and services that help clients reduce costs, improve operations, and achieve sustainability initiatives across the energy value chain.

Founded in 2016, Black Bay Partners emerged from the expertise of former NGP Energy Technology Partners executives. The firm was co-founded by Managing Partner Michael LeBourgeois, along with Partners Tom Ambrose and L. Guy Cook III. Initially operating as Black Bay Energy Capital, the firm has steadily grown its capital commitments, demonstrating a strong track record and investor confidence. This includes the successful closing of its third fund, Black Bay III, L.P., at its hard cap of $425 million in January 2026, bringing cumulative capital commitments across its three funds to over $850 million.

Black Bay Partners has a robust portfolio of investments and exits, focusing on companies that drive efficiency and sustainability. Notable recent investments include Altara (Oil and Gas Equipment), Economy Control Systems (Commercial Products), Scope (Business/Productivity Software with AI inspection capabilities), Enovate (Business/Productivity Software), Farha 4 Holdings (Industrial Chemicals), and Capture Energy (Machinery B2B). The firm has also achieved successful exits from companies such as Piñon Midstream, NexGen Chemical Technologies, Altitude Energy Partners, and Total Operations and Production Services (TOPS).

The firm's team, comprising 11 professionals including 6 partners, brings deep industry experience and operational expertise to identify and scale opportunities. They emphasize a collaborative partnership approach with both fund investors and portfolio companies, providing strategic guidance and resources to foster growth and create value. Black Bay Partners maintains offices in New Orleans, Louisiana, where it is headquartered, and New York City, enabling a broad reach across the North American energy landscape.