Turning Basin Capital portfolio company, Basin Energy Group, adds Katko LTD. to its family of energy services companies
Posted on November 9, 2017 | Filed under: Company News
RICHMOND, Va. November 6, 2017 – 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, Penn., Katko has been an industry-leading production and midstream services firm for more than 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 has grown to more than 300 employees operating in five offices covering seven states.
Joining the Basin board of directors is the owner and founder of Katko, John Bettem, who brings a lifetime of experience in the region as an entrepreneur and service provider..
“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,” said Bill Johnson, president and CEO of Basin.
Bettem added, “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. It continually seeks to expand its service offering, geographic presence and customer base through organic growth as well as through strategic acquisitions.
“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,” said Tom Willingham, managing director at TBC.
The transaction closed on Nov. 3, 2017. Terms were not disclosed.