Consolidation • Energy Services and Equipment

Turning Basin Capital Partners Acquires ShalePro Energy Services

On September 3, 2015, private equity firm Turning Basin Capital Partners acquired energy services and equipment company ShalePro Energy Services

Acquisition Context
  • This is Turning Basin Capital Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Turning Basin Capital Partners’ 1st transaction in the United States.
  • This is Turning Basin Capital Partners’ 1st transaction in Pennsylvania.

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M&A Deal Summary

Date September 3, 2015
Target ShalePro Energy Services
Sector Energy Services and Equipment
Buyer(s) Turning Basin Capital Partners
Deal Type Consolidation

Target Company

ShalePro Energy Services

Houston, Pennsylvania, United States
ShalePro Energy Services is located in the heart of the Marcellus/Utica Shale Basin and is proud to provide best-in-class services to the production and midstream sectors of the ever-growing natural gas industry. It is a holding company formed to acquire leading field service companies serving midstream operators and producers in the Appalachian Basin. ShalePro’s four operating subsidiaries provide a wide range of operating and maintenance services through a workforce of approximately 300 employees located throughout the Ohio, Pennsylvania, and West Virginia shale gas region. ShalePro Energy Services was formed in 2014 and is based in Houston, Pennsylvania.
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Buyer Overview 1

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 $1.5 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 Context for Buyer #
Overall 1 of 6
Sector: Energy Services and Equipment 1 of 1
Type: Consolidation 1 of 1
State: Pennsylvania 1 of 1
Country: United States 1 of 6
Year: 2015 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-19 BBB Tank Services

Baytown, Texas, United States

BBB Tank Services is a provider of products and services to the above-ground storage tank ("AST") market. The Company's products and services include routine and emergency maintenance and repairs, replacement seals for floating roofs, application of protective coatings, and new tank construction and are provided primarily to owners of storage terminals that hold crude, refined petroleum products, chemicals and other commodities. BBB Tank Services was founded in 2001 and is based in Baytown, Texas.

Buy $5M