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  • July 2020
  • Case
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CSL Capital Management: Patriot Proppants (A)

By: Victoria Ivashina and Yury Kapko
  • Format:Print
  • | Language:English
  • | Pages:29
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Abstract

This two-part case series follows CSL Capital’s 2009 investment in the greenfield manufacturing company, Patriot Proppants. CSL, a recently established investment firm, employs a unique investment model, funding new ("green field") energy service businesses that serve Oil & Gas customers in the growing U.S. shale industry. This (A) case offers a perspective on CSL’s approach to deploying capital and the intricacies of the decision process as it relates to potential investment in Patriot. This case also offers insights into fundraising issues, asset-backed lending, and co-investments. Specifically, in addition to evaluating the investment opportunity, CSL must decide which co-investment partner to take on, should it advance with the investment. Students are presented with an opportunity to closely evaluate the terms of the co-investment proposals, particularly given that they came separately from strategic and financial co-investors with divergent objectives.

Keywords

Investment; Renewable Energy; Business Model; Decision Making

Citation

Ivashina, Victoria, and Yury Kapko. "CSL Capital Management: Patriot Proppants (A)." Harvard Business School Case 220-094, July 2020.
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About The Author

Victoria Ivashina

Finance
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Related Work

    • July 2020
    • Faculty Research

    CSL Capital Management: Patriot Proppants (B)

    By: Victoria Ivashina and Yury Kapko
Related Work
  • CSL Capital Management: Patriot Proppants (B) By: Victoria Ivashina and Yury Kapko
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