Houston private equity firm Riverstone Holdings LLC has invested $200 million in Abaco Energy Technologies LLC.

Abaco is a newly-formed, Houston-based company that will focus on manufacturing and services related to oil drilling, production and infrastructure. The company will use the money to acquire companies and develop its business.

Abaco will be led by Ken Babcock and Roger Rivet, formerly CEO and CFO, respectively, of Titan Specialties Ltd. and International Logging Inc. Titan and International Logging were previously owned by Riverstone affiliates.

“We will aim to build a company that is exposed to attractive secular trends in the oil and gas market through both acquisition and direct investment,” says Riverstone partner John Lancaster in a company statement.

Riverstone is a private equity firm that has raised about $27 billion. The company focuses on private equity investments in oil and gas exploration, production, services, as well as power and renewable energy. In October, the firm agreed to invest up to $300 million in Carrier Energy Partners LLC. Before that, in July, Riverstone teamed with Bridger LLC to invested up to $300 million in the company, so Bridger could expand. 

Other companies have also been investing in groups that provide services to the oil and gas industry. In October, First Reserve bought TNT Crane & Rigging Inc., and Advent International bought P2 Equity Partners

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