in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, Fla (January 31, 2019) - Farlie Turner & Co., LLC (“Farlie Turner”), a leading investment bank serving middle market companies, announced today that it received the 2018 Energy Deal of the Year from The M&A Advisor in connection with Farlie Turner’s advisory work on the recapitalization of Knight Energy Holdings, LLC (“Knight” or the “Company”). The M&A Advisor is recognized as a premier leadership organization for mergers & acquisition, restructuring and corporate finance professionals. Farlie Turner’s Energy Group completed this engagement in conjunction with its Special Situations Group in December 2017.
The recapitalization of Knight, 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 Chief Executive Officer of Knight Energy Holdings, said: “We are thrilled with Farlie Turner’s recognition for its advice on the recapitalization of Knight. Their insightful advice and staunch advocacy on our behalf led to a win-win situation for the Company, its shareholders, and the hundreds of families whose jobs were preserved in a difficult environment for energy services.” He continued: “The Farlie Turner transaction team, particularly including Erik Rudolph, Scott Saunders, and Steve Zuckerman, were available to our shareholders and management team on many long days, nights, and weekends.”
“We are extremely honored by this award from The M&A Advisor,” remarked Scott Saunders, Managing Director. “This is the second national award we have received for the Knight transaction, and the seventh national award that Farlie Turner’s Special Situations Group has received in the past eight years,” he added.
Headquartered in Houston, Knight Oil Tools, now known as Knight Energy Services, is one of the largest independent rental tool companies serving the North American oil and gas industry. The company provides a complete range of rental products for drilling and production applications, handling tools, surface pressure control equipment, a comprehensive suite of casing and tubing services, manufacturing packages, drilling jars, inspection, hardbanding and safety training.
Besides Messrs. Rudolph, Saunders, and Zuckerman, 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 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.