TC Companies, a provider of oil and gas related safety services and a portfolio company of Hammond, Kennedy, Whitney & Company (HKW), has acquired EnerSafe, a provider of safety services and flaring technology to oil & gas operators. HKW acquired TC Companies in August 2013.
EnerSafe is a provider of turnkey hydrogen sulfide safety services and flaring technology to oil & gas operators throughout the southwest. The company is headquartered in Houston, TX (www.enersafellc.com).
TC is a provider of safety services, safety equipment and consulting services to the oil & gas industry. The company is headquartered in Midland, TX (www.tcsafetyinc.com).
On a combined basis, EnerSafe and TC will provide safety services and products to large oil & gas producers in Texas, Louisiana, Arkansas, Mississippi, Kansas, Oklahoma, New Mexico and Colorado.
“This is an ideal match of companies with little overlap in key customers, products, services and geographies, who together will be a true market leader,” said Mark Becker, HKW Partner.
Hammond, Kennedy, Whitney & Company invests in companies with revenues between $20 million and $200 million and EBITDAs between $2 million and $20 million. Over the past 29 years, HKW has completed 44 platform management buyouts of small middle-market companies throughout North America as well as 47 add-on acquisitions. The firm was founded in 1903 and is headquartered in Indianapolis with an additional office in New York (www.hkwinc.com).
“We are very pleased to partner with HKW and are excited about this unique opportunity to find and merge with another high quality safety provider who shares our core values and extends our capabilities,” said Ryan McMillan, President and CEO of EnerSafe. Similarly, Mike Cunningham, President of TC, expressed his optimism. “Combined we will be a highly competitive force in our industry and our customers will benefit through our now full range of safety products and services.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-8-13