Platinum Energy Solutions, an oilfield services provider backed by Clearlake Capital Group and Layton Corporation, has withdrawn its IPO registration, citing market conditions. The company first filed in September 2011 for a $300 million offering. Headquartered in Houston, Platinum specializes in hydraulic fracturing, coiled tubing and other pressure pumping services to the oil and gas industry. Clearlake led a $135 million recapitalization in partnership with Layton and company management in March 2011. Clearlake remains the majority owner of Platinum's voting shares.
