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Trilogy Rebrands and Refocuses after Acquisition

I recently caught up with Jeremy Frye, President at what was previously known as Trilogy Effective Software Solutions, and now as Trilogy Energy Solutions.  The name change and rebranding comes in the wake of the acquisition of the company’s assets by Crude Street, a Chicago-based boutique investment firm in March of this year.

For those not familiar with Trilogy, the company produces TIES, The Integrated Energy System, which focuses primary on the oil and gas midstream/producer services space, including gas plant and pipeline operations, both from a shipper and an operator point of view.  The company also provides business process outsourcing services to many of their customers, including scheduling, allocations, trade management and settlements.

Mr. Frye noted at the time of the acquisition, “We’re thrilled with the acquisition by Crude Street which gives us immediate access to capital, and a large pool of development resources which have extensive experience within the energy trading and risk management space.” In our recent conversation, he said the initial expectations of the acquisition have been realized and with the additional resources provided by Crude Street, Trilogy has been busy enhancing their underlying technologies (including a new multi-tenanted SaaS solution to be released by the end of the year) and improving front-end usability and functionality.  He noted in particular that they had spent a lot of effort on improving workflow in the system, including updating the UI to improve the user experience.

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Though the company hasn’t really focused on the marketing/trading markets much in the past, he did say they are also expanding their capabilities in hedging, risk and improved daily PnL reporting. With these enhancements, it appears they could also become a more active player in the downstream space in the future.

In terms of current market activity, he noted that they are seeing a lot of inbound interest, not only from their traditional markets in oil and gas, but also from companies involved in the carbon dioxide markets, including CO2 capture, transmission and sequestration.

It will be interesting to watch the company develop over the next year or two.  Trilogy has traditionally been pretty quiet in terms of marketing and market visibility.  Though they have had a mature and highly capable product for many years, their focus in selling to the North American midstream markets had limited the awareness of their company and product in the wider CTRM/ETRM space.  Now, with a new ownership team and increased product development investments, we do expect Trilogy Energy Solutions to become a more well known brand with a broadened market reach, and a more active competitor in the space.