Founders Advises AMI in its Recapitalization and Merger with SPL
BIRMINGHAM, Ala. (January 22, 2019) – Founders Advisors (“Founders”) is pleased to announce that certain principals served as the exclusive financial advisor to Atchafalaya Measurement, Inc. (“AMI”) a portfolio company of Tampa based KLH Capital, in its recapitalization and merger with SPL, an industry leader in hydrocarbon production measurement services, and a portfolio company of Industrial Growth Partners. The transaction closed on December 31, 2018 and was led by Duane Donner II of Founders.
For more than 35 years, AMI has provided industry-leading measurement services to oil and gas companies in the United States. With their extensive knowledge of liquid and gas measurement, electrical, instrumentation and automation services, and their highly-qualified team of experts, AMI is recognized as an industry leader in hydrocarbon measurement – and an excellent fit with SPL’s technical capabilities. SPL, headquartered in Houston, Texas, was acquired by Industrial Growth Partners, along with management, in September 2016.
Nick Trahan, President of AMI, will join SPL and continue in that role. “I am pleased that we have been able to complete this partnership,” said Nick. “Founders’ knowledge and experience was crucial in helping us to source and select the right partner for AMI. The team did an outstanding job negotiating the deal, leading us throughout the process and getting the transaction closed,” he added. “Founders worked with us to execute the management buyout in 2013 with KLH Capital and throughout the past five years, and now they have led us to a successful exit. This has been a great and rewarding partnership.”
Combined, SPL and AMI will be the market leader in production measurement and related services with operations across every major oil and gas play in the United States.
Duane Donner, Managing Partner at Founders, said “It has been a tremendous experience for Founders to work with the management team and KLH Capital on the evolution of AMI and the sale of the company. We are delighted to have been able to serve on both the initial purchase and exit, and we look forward to seeing the future success of AMI in its combination with SPL. We remain deeply committed and connected to the energy space and this is another great example of the type of solid strategic partnership we like to put together.”
About Founders Advisors, LLC
Founders Advisors (Founders) is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders’ focus is on oil and gas, SaaS/software, industrials, internet, healthcare, digital media and industrial technology companies located nationwide, as well as companies based in the Southeast across a variety of industries. Founders’ skilled professionals, proven expertise and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to provide securities-related services discussed herein, certain principals of Founders are licensed with M & A Securities Group, Inc. or Founders M&A Advisory, LLC, both members of member FINRA & SiPC. M&A Securities Group and Founders are unaffiliated entities. Founders M&A Advisory is a wholly-owned subsidiary of Founders. For more information, please visit www.foundersib.com.
About KLH Capital
KLH Capital is a fully capitalized SBIC-licensed private equity firm that currently manages more than $300 million in capital across three funds. During our nearly 30-year business tenure, we have successfully completed more than 130 transactions, including recapitalizations, management buy-outs and buy-ins, family successions and retirement transitions, and corporate divestitures.