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Basin Energy Group Announces Katko Merger

Turning Basin Capital (“TBC”) announced today that its portfolio company, Basin Energy Group (“Basin”), has completed a merger with Katko, LTD. (“Katko”).  Katko joins current Basin operating companies, ProActive Services, Appalachian Production Services, and Starett Energy Services, to provide complementary production and midstream services for the natural gas and oil industry in the Ohio, West Virginia, and Pennsylvania.

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.  With the addition of Katko, Basin now has more than 300 employees operating out of five offices covering seven states.

Joining the Basin board of directors is the owner and founder of Katko, John Bettem.  John brings a lifetime of experience in the region as an entrepreneur and service provider.  Bill Johnson, President and CEO of Basin said, “We are excited to add John to the Basin Board of Directors as we look to build Basin into the premier production services firm in the region.”

On partnering with TBC and Basin, John Bettem said, “I believe TBC through its portfolio company Basin Energy Group is the best partner for Katko to achieve its objectives.  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.”

Basin is devoted to servicing natural gas and oil producers by assisting in the production and transportation of natural gas and associated liquids with a focus on operations in Ohio, Pennsylvania and West Virginia.  Basin continually seeks to expand its service offering, geographic presence and customer base through organic growth as well as through strategic acquisitions.  Tom Willingham, Managing Director at TBC, said, “We are bullish on natural gas, the Appalachian region and infrastructure services and believe the combination of Katko and Basin Energy Group adds to our capabilities to take advantage of improving market trends.”

The transaction closed on November 3, 2017, 2017. Terms were not disclosed.

To learn more about Basin Energy, visit www.basinenergygroup.com.

About Turning Basin Capital

TBC is a private equity firm with a unique focus on lower middle market companies that cater to the energy sector.  The principals of TBC believe this is an underserved market segment abounding with attractive businesses that are well-positioned to benefit from the overall growth and evolution of the domestic energy market.  TBC is focused on aligning with the strongest management teams in this sector, who can take advantage of its experience in growing businesses to achieve an even greater market position and value. TBC focuses on the lower middle market and targets companies with adjusted earnings below $5 million and enterprise values typically less than $20 million. 

To learn more about Turning Basin Capital visit www.turningbasin.com.

Collin Henderson