CHARLOTTE, N.C., Jan. 26, 2017 /PRNewswire/ -- Global Growth Partners ("GGP") is proud to announce the merger of Appalachian Production Services, Inc. ("APS") of Abingdon, VA with Basin Energy Group, headquartered in Clarksburg, WV, a portfolio company of Turning Basin Capital. The addition of APS to the Basin Energy Group creates one of the largest independent service companies in the oil and gas industry supporting exploration and production ("E&P) and midstream service companies in the Marcellus and Utica basins.
Established in 1994, APS was one of the first production service companies in the Appalachian region, bringing a wealth of local knowledge, expertise and relationships to the combined company. Focusing on oil and natural gas production management services to upstream E&P and midstream clients has cemented APS as one of the pioneers in the Appalachian region. APS' founder, Frank Henderson, started the company as an operator who built his service platform from an operators' point of view. Over time, his business grew rapidly along with new operators/producers who have made hefty investments in drilling new wells and installing midstream infrastructure as the mineral resources within the Marcellus and Utica basins were discovered and developed.
Merging with Basin gives APS additional service capabilities and provides the combined entity with service coverage throughout Virginia, Kentucky, West Virginia, Pennsylvania, New York, Tennessee and Ohio with seven field offices located in the footprint.
Jason Patterson of Global Growth Partners commented, "this was a natural fit as both companies had very little overlap in regards to core service offerings, geographic presence and their respective portfolios of blue chip customers; together they offer the highest level of comprehensive oil and gas services coupled with a disciplined safety program and proven record which is critical for oil and gas producers/operators operating in the basin today."
Moreover, being a portfolio company of Turning Basin gives Basin Energy Group (which APS is now a part of) flexibility to grow more rapidly with its customers as the industry regains its feet and readies itself for a sustained growth cycle.
Given Global Growth Partners' expertise is in working closely with business owners and closely-held family businesses, assisting them in preparing and executing both growth and exit strategies, GGP continues to actively partner with middle market management teams and business owners who seek well-managed and well-executed transactions.
Global Growth Partners works with middle-market businesses to assess and execute strategic mandates associated with raising capital for growth opportunities, buy-side and sell-side mergers and acquisitions (buying and selling companies), unlocking stockholder value (liquidity events), exit strategies and other strategic goals. For more information visit www.globalgrowthpartners.com, or call 704-438-9930. GGP looks forward to making your transaction a reality.
About Global Growth Partners
Global Growth Partners ("GGP") is a full service boutique investment banking firm providing hands-on strategic advisory services including mergers and acquisitions (buy-side and sell-side), capital raising services (debt, minority and majority equity and hybrid forms of capital), strategic alternatives, business valuations and consulting to middle market clients and entrepreneurs. With a rich global network and expansive reach, GGP delivers boutique advisory and consulting services on a bespoke individual level. No company or business strategy is the same; successful execution requires "hands-on" attention that is not attainable in larger organizations. Crafting and executing growth and exit strategies requires insight, knowledge, proprietary networks, expertise and processes, which are time tested. GGP spearheads these strategies by providing thought leadership, strategy development, implementation and professionalism throughout the process.
For more information, visit www.globalgrowthpartners.com
GGP - APS Basin Press Release.pdf
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SOURCE Global Growth Partners