Kian Capital-backed SPATCO scoops up petroleum services firm MSCS

• Kian is SPATCO’s lead investor along with co-investors RF Investment Partners and Apogem Capital
• In addition to this deal, Scott Wattenberg has been named chief financial officer of SPATCO
• Kian backs lower-middle-market businesses

SPATCO, which is backed by Kian Capital, has acquired Dallas-based MSCS Ltd., a petroleum services company. No financial terms were disclosed.

SPATCO is an infrastructure services provider.

“As SPATCO continues its expansion, we are excited to welcome Scott Wattenberg to the leadership team as chief financial officer,” said Kian co-founder and Partner Kevin McCarthy in a statement.

In addition to this deal, Scott Wattenberg has been named chief financial officer of SPATCO. For the last nine years, he served as CFO at BestCo, where he led the company’s 2018 exit to RoundTable Healthcare Partners. Before BestCo, he was CFO at Prym, Inc.

Kian is SPATCO’s lead investor along with co-investors RF Investment Partners and Apogem Capital. Robinson, Bradshaw & Hinson, P.A. acted as Kian’s legal advisor, and financing for the transaction was provided by Byline Bank.

Kian backs lower-middle-market businesses. Currently, the firm has $825 million of capital under management.