As reported by Oil & Gas Financial Journal’s Website, OFS Energy Fund said Oct. 5 that it has closed on a growth equity investment in Houston, Texas-based KW International LLC, a provider of production and midstream equipment for oil and gas producers. Proceeds from the investment will fund KWI’s expansion into a new manufacturing facility to be located in Columbus, Texas, by summer 2013.
“KWI has an exciting opportunity to grow our enterprise into the 150,000-square-foot facility while continuing to provide process and production equipment for oil and gas producers,” said Kurt Wind, CEO of KWI. “We expect to add approximately 150 new jobs and see a substantial increase in the size and scope of our business.”
As part of the transaction, OFS contributed growth equity for an ownership position and arranged bank credit facilities.
From 2010 to present, KWI has increased its product offering, opened field offices in Pennsylvania and Columbus, and grown from 84 to 151 employees.
“We look forward to assisting the company with its continued growth as it capitalizes on the high demand for equipment and related infrastructure in the Permian Basin and the Eagle Ford shale as well as other emerging shale plays,” said Bruce Ross, managing partner of OFS.
Amegy Bank of Texas provided financing for the transaction.
Houston-based OFS Energy Fund is a professionally managed private equity firm that specializes in acquiring and recapitalizing lower middle-market energy service companies.
