Black Bay Energy Capital (“Black Bay”), a private equity firm focused on
the North American oilfield service sector, is pleased to announce that
it has completed a recapitalization of, and growth equity investment in,
SCS Technologies, LLC (“SCS” or the “Company”) alongside the SCS
management team.
SCS is a leading provider of critical liquid production measurement
equipment, controls and automation solutions in the Permian Basin.
Founded in 2012 and led by Cliff Castilaw and Jess Slaughter, the
Company has experienced rapid growth since its inception and serves
clients in both the midstream and upstream segments of the oilfield.
Black Bay’s investment in SCS enables the Company to expand its product
offerings, customer base, and management team, along with pursuing
opportunistic acquisitions. In addition, Gene Gradick Sr., the former
CEO of J-W Measurement and the broader J-W Energy enterprise, joins the
SCS team as a Director and will assist in executing the Company’s growth
initiatives.
Jess Slaughter, Co-President of SCS, said, “I am excited to work with
Gene and the Black Bay team, and the entire SCS team is proud to
announce our partnership with Black Bay. Black Bay’s oilfield
experience, industry relationships, and value-added capital will enable
the Company to rapidly accelerate our plans for growth in the Permian
Basin and beyond.” Cliff Castilaw, Co-President of SCS, added “Thanks to
our new partnership with Black Bay, SCS is well-positioned to pursue
strategic growth opportunities in response to demands from our fantastic
customer base. Adding Gene to the team further enhances our network of
clients, critical vendor relationships, and top-tier managerial talent
to meet our growth plans.”
“We are thrilled to partner with the SCS team and with Gene” said Guy
Cook, Partner of Black Bay. “SCS is managed by a highly skilled team of
entrepreneurs who are delivering customized solutions and premium
equipment to the Permian Basin upstream and midstream community. The
Company’s impressive growth is a strong indicator of the importance of
SCS’ solutions to improving the bottom line for their clients.”
“The opportunity to partner with a team of entrepreneurs as technically
savvy and customer-focused as Cliff, Jess and the rest of the SCS team
is exactly what we look for at Black Bay. The SCS platform is
well-positioned for continued growth in delivering turnkey liquids
measurement and automation solutions to the customer base in the Permian
Basin and other key US shale plays,” said Tom Ambrose, Partner of Black
Bay.
Fishman Haygood served as Black Bay’s counsel on the transaction.
Romanchuk & Co. served as the financial advisor to SCS and Atkins,
Hollmann, Jones, Peacock, Lewis & Lyon served as SCS’s legal counsel.
About SCS Technologies:
Based in Big Spring, Texas, SCS provides turnkey measurement and control
system solutions for oil & gas production and midstream operators
throughout the Permian Basin. The Company custom designs, fabricates and
installs advanced liquid measurement systems and provides related
services including Programming Logic & Control (PLC) Systems, mobile
meter proving services, electrical infrastructure installation and
service, and other site services.
www.scstechnologiesllc.com
About Black Bay Energy Capital:
Black Bay Energy Capital is an energy private equity firm investing in
the North American oilfield service sector. Leveraging more than 60
years of direct industry experience, Black Bay partners with high-growth
companies and experienced management teams with differentiated,
next-generation products, services and technology solutions that drive
value and enhanced efficiency for customers in the oil & gas industry.
www.blackbayenergy.com
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