Posted on April 22, 2013 | Filed under: Company News
Ewing Bemiss & Co., a leading middle-market investment bank focused on the energy and power sector, announces the formation of its private equity affiliate, Turning Basin Capital, and the addition of Mark Murray, a seasoned private equity executive, to lead its principal investing activities.
About Turning Basin Capital
Turning Basin Capital is focused on making equity investments in lower-middle market companies that generally fall below the criteria of traditional middle-market private equity firms. The firm targets companies in a wide range of energy related sectors including companies providing services and/or products to the power generation and transmission, oil and gas production and transportation and resource efficiency markets. Turning Basin Capital seeks to provide equity financing to fund growth initiatives and to facilitate ownership transition in privately-held businesses.
For more than 15 years, Ewing Bemiss & Co. has provided expert merger & acquisition and capital formation advice to a myriad of energy related companies including developers of renewable and distributed energy projects in the United States and abroad and manufacturers and service providers focused on the oil and gas industry. Through this experience, the principals of Ewing Bemiss have identified a niche opportunity to deploy private capital to the underserved lower middle-market in the energy sector.
Macro themes affecting the energy market, such as energy independence, global warming concerns, resource scarcity, innovative technologies and an evolving regulatory environment drive change and create market opportunity for forward-thinking, entrepreneurial organizations. Turning Basin Capital believes that there exists a large universe of privately-owned businesses that are well-positioned to benefit from attractive trends that are affecting the energy sector, but only have limited access to institutional growth capital. Energy-related businesses in the lower-middle market often are overlooked by larger private equity funds and do not typically fit the investment thesis of clean-tech focused venture capital funds.
“Turning Basin Capital is looking to fill that void in the lower-middle market by investing in smaller closely held companies that are responding to the macro drivers by supplying goods and services to larger energy players,” said Tom Willingham, Managing Director of Ewing Bemiss.
Introducing Mark Murray
To lead the efforts of Turning Basin Capital, Ewing Bemiss has added Mark Murray. Mark joins Turning Basin Capital after 11 years at Dominion Resources, where he was responsible for strategic venture investments and business development for the alternative energy group. Prior to that role, Mark held a variety of roles in the law department, which included providing strategic advice and business development for Dominion’s natural gas transmission and storage business. He also managed the assets of the former Dominion Capital. Earlier in his career, Mark, an attorney and CPA, practiced corporate law for Troutman Sanders and accounting for Arthur Andersen.
“Mark’s experience in alternative energy investing, energy-related mergers and acquisitions, and regulatory affairs complements the strong team already in place at Ewing Bemiss,” said Henry Berling, Managing Director of Ewing Bemiss.
For more information about Turning Basin Capital, please visit www.turningbasin.com.