Rock Hill Capital Group has acquired TMCo, a specialty manufacturer of fittings used in natural gas measurement.
TMCo manufactures orifice fittings – a type of differential pressure meter which measures the rate of flow – used in the oil and gas industry. The company’s products, which are available in multiple sizes and pressure ratings, includes its patented SureShot Dual Chamber orifice fitting and the SureShot Single Chamber orifice fitting.
TMCo was founded in 2003 by the Carroll family and has manufacturing facilities in Wewoka, OK, fabrication facilities in Simonton, TX, and sales and administrative offices in Houston, TX (www.tmco-usa.com).
Charles Maurice, with whom Rock Hill has a long-standing relationship, will join the company as CEO alongside existing management in connection with the transaction.
“The Carroll family has built a great business with a high-quality product and outstanding customer service and we look forward to building on their success,” said Randall Hale, Managing Director of Rock Hill. “We are excited to partner with Charles to take advantage of the tremendous opportunities for growth. Going forward, we plan to help the company invest in new and improved products and expand beyond current end markets while remaining dedicated to manufacturing only the highest quality orifice fittings for our customers.”
Rock Hill invests in small-to-lower middle market companies with enterprise values up to $75 million and EBITDA of $4 million to $10 million that are located in the South and Southeast regions of the US. Sectors of interest include industrial products and services. Rock Hill was founded in 2007 and is based in Houston (www.rockhillcap.com).
The buy of TMCo is the fifth investment by Rock Hill’s third fund, Rock Hill Capital III LP, which closed in January 2017 with $150 million in capital commitments.
Debt financing for this transaction was provided by Cadence Bank and Mutual of Omaha Bank. Winston & Strawn provided legal services.
© 2018 Private Equity Professional | October 9, 201