Black Bay Energy Capital has recapitalized Big Spring, Texas-based SCS Technologies, a provider of critical liquid production measurement equipment, controls and automation solutions in the Permian Basin. No financial terms were disclosed. Romanchuk & Co. served as financial adviser to SCS on the transaction.
BIG SPRING, Texas–(BUSINESS WIRE)–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.
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.