M&A Deal Summary

Turning Basin Capital Partners Acquires Liberty Towers

On April 10, 2019, private equity firm Turning Basin Capital Partners acquired energy services and equipment company Liberty Towers from Vertical Bridge

Acquisition Highlights
  • This is Turning Basin Capital Partners’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Turning Basin Capital Partners’ 4th transaction in the United States.
  • This is Turning Basin Capital Partners’ 1st transaction in Maryland.

M&A Deal Summary
Date 2019-04-10
Target Liberty Towers
Sector Energy Services and Equipment
Buyer(s) Turning Basin Capital Partners
Sellers(s) Vertical Bridge
Deal Type Divestiture

Target

Liberty Towers

Rohrersville, Maryland, United States
Liberty Towers provides maintenance and repairs, inspections and installations of flare and combustion equipment. The Company’s customer base consists of refineries, chemical plants, midstream terminals, and other industrial facilities in the Gulf region. Liberty is a platform investment in the niche services sector targeting the downstream and midstream energy and industrial sectors nationwide. Liberty Towers was formed in 2006 and is based in Rohrersville, Maryland.

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Buyer(S) 1

Buyer

Turning Basin Capital Partners

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Focused
DESCRIPTION

Turning Basin Capital Partners is a private equity firm focused on lower middle-market energy companies. Specific areas of interest include service providers and equipment manufacturers focused on oil and gas development, production, and transportation as well as power generation and distribution. Turning Basin seeks to invest $2 to $5 million for controlling stakes in profitable companies with $1 to $5 million of EBITDA. The Firm will consider opportunities throughout North America but has a preference for opportunities in the Southeast and Gulf regions of the US. Turning Basin Capital Partners was formed in 2013 and is based in Richmond, Virginia.

DEAL STATS #
Overall 4 of 5
Sector (Energy Services and Equipment) 2 of 2
Type (Divestiture) 1 of 1
State (Maryland) 1 of 1
Country (United States) 4 of 5
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-14 Pinnacle Manufacturing

Boaz, Alabama, United States

Pinnacle Manufacturing manufactures and refurbishes tanks and containers used for the storage, transportation, and disposal of hazardous and non-hazardous solids and liquids. Pinnacle’s tanks and containers are used in a wide range of applications, including industrial cleaning, environmental remediation, infrastructure construction, wastewater treatment and disposal, and upstream oil and gas development. Pinnacle Manufacturing is based in Boaz, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Commercial Energy Specialists

Jupiter, Florida, United States

Commercial Energy Specialists is a tech-enabled, service-supported distributor of a broad suite of water treatment equipment and supplies to commercial and institutional swimming pool and aquatic facility owners in the Southeast and Caribbean. Commercial Energy Specialists is based in Jupiter, Florida.

Buy -

Seller(S) 1

SELLER

Vertical Bridge

Boca Raton, Florida, United States
Category Company
Founded 2002
Sector Infrastructure
DESCRIPTION

Vertical Bridge is an owner and manager of wireless communications infrastructure. Vertical Bridge owns, operates and master leases over 266,000 towers, rooftop, billboard, utility attachment, and other site locations in support of wireless network deployments.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Liberty Towers

Rohrersville, Maryland, United States

Liberty Towers provides maintenance and repairs, inspections and installations of flare and combustion equipment. The Company’s customer base consists of refineries, chemical plants, midstream terminals, and other industrial facilities in the Gulf region. Liberty is a platform investment in the niche services sector targeting the downstream and midstream energy and industrial sectors nationwide. Liberty Towers was formed in 2006 and is based in Rohrersville, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-23 Eco-Site

Morrisville, North Carolina, United States

Eco-Site builds, owns and operates wireless towers and infrastructure sites. Founded by wireless industry executives with extensive carrier and infrastructure experience, Eco-Site provides superior real estate solutions for network densification and expansion. Eco-Site offers single-point access to a nationwide pool of sites, including build-to-suit towers, colocation solutions and retail properties. Eco-Site’s unique approach provides carriers customized, scalable results to meet their ever-changing network needs.

Buy -
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