Blackhawk Specialty Tools, a provider of specialty equipment and services to the oil and gas industry, has completed a recapitalization of the company led by Bain Capital and in partnership with the company’s management team. Blackhawk Specialty Tools was sold by Rock Hill Capital Group, which has been an investor in Blackhawk since 2010.
Blackhawk Specialty Tools’ wellbore construction equipment offerings, including cement heads and complementary cementing products. Blackhawk designs, assembles, rents and sells its advanced equipment for offshore and onshore use by major integrated oil and gas companies, large independent oil and gas companies, and foreign national oil and gas companies. Blackhawk was founded by Billy Brown, Dean Robichaux, Ron Robichaux and Lawrence Brown, and is headquartered in Houston with additional operations in Houma, LA (www.blackhawkst.com).
“The management team is excited to partner with Bain Capital as we continue to grow our business to meet the needs of customers around the world,” said Billy Brown, President and Chief Executive Officer of Blackhawk, who will continue to lead the company with the current senior management team.
“We look forward to helping Blackhawk build upon its strengths in engineering, quality and safety in order to expand its business and product lines in the Gulf and other drilling markets,” said Todd Cook, a Managing Director at Bain Capital. “We believe this is an attractive opportunity to put our resources and experience to work, in collaboration with Billy and the management team, to grow Blackhawk in ways that directly benefit its customers.”
Financing for this transaction was provided by GE Antares Capital.
Simmons & Company acted as financial advisor, and Winston & Strawn acted as legal advisor to Blackhawk Specialty Tools. Ropes & Gray and Vinson & Elkins were legal advisors to Bain Capital.
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-2-13