Calash has announced that it has advised the New York private equity investment firm Castle Harlan in its recent acquisition of Exterran Corp.’s oil and gas production equipment assets in North America, creating Titan Production Equipment.
Titan Production Equipment engineers and manufactures equipment for the separation, processing and treating of oil and gas hydrocarbon streams. The company produces both pre-designed and custom separators, heater treaters, glycol dehydration units, as well as a wide range of other production equipment products.
Eric Schwartz, Managing Director of Castle Harlan, said: “The production equipment market currently faces constrained capacity, in which customers experience long lead-times, limited engineering support and product quality issues. We are excited to partner with Chris Werner and the rest of the Titan management team to address these challenges as a market leader in the industry with a completely dedicated focus on the design, engineering and manufacturing of high quality production equipment.”
Sean Shafer, Calash’s Project Manager on the due diligence team, added: “Rapidly increasing US onshore well completion activity has led to strains on the supply chain for a variety of services and equipment including wellhead production and gathering equipment. Titan Production Equipment is uniquely positioned for growth due to its’ ability to differentiate itself through engineering, product quality, and efficient manufacturing. The Calash team developed a granular market model that demonstrated the scale of the opportunities available to Titan, validated these opportunities with in-depth discussions with key customers and the broader market, and highlighted the significant potential growth opportunities available to the business.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/24042018/calash-supports-castle-harlan-acquisition/