Basin Environmental Services Management Buyout ~ September 2014
Basin Environmental Service Technologies LLC preforms oilfield remediation and clean up services for oilfields in the Permian basin. Basin’s business focuses on assessing spill sites, sampling soil, collaborating with regulators to develop and approve treatment and cleanup plans, removing (or in some cases treating) contaminated soil, and obtaining regulatory site closure approval. Approximately 75% of Basin’s business is created by spills from producing new drilling sites and the pipelines associated with them, the other 25% comes from existing drilling sites. The company was founded in 2004, and is headquartered in Lovington, New Mexico.
Taglich Brothers provided the majority of the $5.0 million in equity for the transaction. The transaction’s sponsor, Taglich Private Equity, arranged for the $2.0 million senior term loan, a senior secured revolving line of credit, and a $1.0 million line of credit for purchase of equipment upon closing.
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