Dallas-based private equity firm Turnbridge Capital said Monday that it has recapitalized Pipe Pros. No financial terms were disclosed. Headquartered in Corpus Christi, Texas, Pipe Pros is a provider of casing and tubing installations.
Corpus Christi, TX; Dallas, TX; Houston, TX (PRWEB) September 23, 2013
Turnbridge Capital, LLC (“Turnbridge”), together with the management founders and current investors of Pipe Pros, LLC (“Pipe Pros”) are pleased to announce the equity recapitalization of Pipe Pros and the expansion of its capital resources to facilitate future growth.
Pipe Pros, headquartered in Corpus Christi, TX, is a leader in the installation of casing and tubing in the markets it serves. From district locations in Texas (Corpus Christi, Kilgore and Midland) and Louisiana (Lafayette), Pipe Pros’ experienced crews deliver high-quality, safe and efficient installation services utilizing the latest generation casing and tubing equipment to over seventy customers.
“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 U. Clarke, Partner at Turnbridge who will also serve as Chairman of the Board of Managers of Pipe Pros.
About Pipe Pros:
Founded in 2009, Pipe Pros is an energy services company focused on the high-quality, safe installation of casing and tubing for new oil and natural gas well construction and the provision of tubing maintenance services for producing oil and natural gas wells. For more information, please visit the Company’s website at http://www.pipe-pros.com.
About Turnbridge Capital:
Turnbridge Capital, LLC is an energy-focused private equity firm with offices in Dallas, TX and Houston, TX. Owned entirely by its principals, Turnbridge pursues investments in the middle market alongside experienced management teams with shared goals and aligned interests. For more information, please visit the firm’s website at http://www.turnbridgecapital.com.