Generational Equity announced the merger of its client, Katko, Ltd., with Basin Energy Group, an affiliate of Turning Basin Capital. The transaction closed November 3, 2017.
Headquartered in Carmichaels, PA, Katko has been an industry-leading production and midstream services firm for over 22 years by specializing in well hook up services, maintenance of midstream and production assets, and specialty welding services in Ohio, Pennsylvania and West Virginia. Its customers include natural gas and oil producers, as well as midstream operators in the Appalachian region.
“I believe Turning Basin Capital, through its portfolio company Basin Energy Group, is the best partner for Katko to achieve its objectives,” said John Bettem, president of Katko. “This merger allows Katko and its employees to be part of one of the region’s most comprehensive service firms with the capability to cover any producer or midstream operator focused on the Marcellus/Utica Basin.”
Turning Basin Capital, a private equity firm based in Richmond, VA, focuses on lower middle market companies that cater to the energy and power sectors. Turning Basin provides equity capital to fund growth initiatives and to facilitate ownership transition for companies in oil and gas development, production, and transportation; conventional as well as renewable/distributed power generation; and electric transmission and distribution. With the addition of Katko, Basin Energy Group has grown to more than 300 employees operating in five offices covering seven states.
“We are excited to add John to the Basin Energy Group board of directors as we look to build Basin into the premier production services firm in the region,” said Bill Johnson, president and CEO of Basin.
Generational Equity Managing Director Doug Smith’s team, led by Vice President Ryan Johnson, successfully closed the deal. Generational Equity Senior Managing Director Thomas Hamm established the initial relationship with Katko.
“It was a pleasure to work with these companies to help them both find the optimal merger for their investors and their businesses,” said Johnson. “Together, Katko and Basin Energy Group can take advantage of the rapidly changing and growing energy market in the Appalachian region.”
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