in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, Fla. (July 25, 2018) - Farlie Turner & Co., LLC (“Farlie Turner”), a leading investment bank serving middle market companies, announced today that its Special Situations Group received the 2018 Turnaround Atlas Award as Boutique Restructuring Financial Advisor of the Year. The award was presented by Global M&A Network, an international organization comprised of leading M&A professionals, attorneys, advisors and investors, in connection with Farlie Turner’s advisory work on the recapitalization of Knight Oil Tools. Farlie Turner’s Special Situations Group completed this engagement in conjunction with its Oil and Gas Services Group in December 2017.
The recapitalization of Knight Energy Holdings, LLC (the “Company”), including its principal operating company Knight Oil Tools, LLC and other affiliates, took place under Chapter 11 bankruptcy protection, resulting in the reduction of more than $175 million in the Company’s total debt. The transaction was completed with an affiliate of Clearlake Capital Group L.P. in partnership with the Knight family and the Company’s management team.
Commenting on the award, Jeff Elmore, former President and CEO of Knight Oil Tools, said: “We are thrilled with the recognition of Farlie Turner’s work for the recapitalization of our company. Their insightful advice and staunch advocacy on our behalf led to a win-win situation for Knight, its shareholders, and the hundreds of families whose jobs were preserved in an extremely difficult environment for energy services.” He continued: “The Farlie Turner transaction team, particularly including Steve Zuckerman, Erik Rudolph, and Scott Saunders, were available to our shareholders and dedicated management team on many long days, nights, and weekends.”
“We are extremely honored by this award from Global M&A Network, and know that we faced strong competition from a talented group of peers,” remarked Scott Saunders, Managing Director. “This award marks the sixth national award that our group has received in the past eight years, an accomplishment we are very proud of,” he added.
Headquartered in Lafayette, Louisiana, Knight Oil Tools is one of the largest privately-owned oilfield rental tool companies in the world. It supplies a wide offering of rental equipment and services for drilling, completion and well control activities, serving a diverse base of oil and natural gas E&P operators.
Besides Messrs. Rudolph, Zuckerman, and Saunders, Farlie Turner’s transaction team included Kyle Jones, Vice President, and Chris Henry, Associate.
About Farlie Turner’s Special Situations Group
Farlie Turner's Special Situations Group specializes in representing underperforming and financially distressed companies. This Group complements Farlie Turner's traditional investment banking practice, which focuses on serving growth-oriented middle market companies. Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with the FINRA, provide merger and acquisition, private placement, and financial advisory services. Please visit www.farlieturner.com for more information.