Turnbridge Capital, together with the management founders and current investors of Pipe Pros, have completed an equity recapitalization of Pipe Pros and also expanded the company credit facilities.
Pipe Pros is an installer of casing and tubing for new oil and natural gas well construction and a provider of tubing maintenance services for producing oil and natural gas wells. The company was founded in 2009 and is headquartered in Corpus Christi, TX (www.pipe-pros.com).
“Partnering with Turnbridge is an important next step for Pipe Pros, its employees, customers and suppliers,” said Gary Edwards, President and Founder of the company. “With additional capital, we have an opportunity to invest in new equipment and to expand our service offering to customers in our current markets; and, to accelerate our growth into new markets and service lines over time. We look forward to working with the Turnbridge team.”
“Gary Edwards and the rest of the management and employee team have worked together for many years and built Pipe Pros into a highly respected provider of mission-critical well completion services, and we are very pleased to have the chance to be their partner during this next phase of the company’s growth,” said John Clarke, Partner at Turnbridge who will also serve as Chairman of the Board of Managers of Pipe Pros.
Turnbridge Capital is a private equity investment firm with a focus on opportunities primarily in the energy and infrastructure sectors. Typical transactions involve companies which range in enterprise value from $25 million to $250 million. The firm has offices in Dallas and Houston (www.turnbridgecapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-24-13
