BK Corrosion, a division of Integrated Corrosion Companies, has been acquired by Enemtech Capital and members of BK Management

HOUSTON, TEXAS (December 9, 2016)Statesman Corporate Finance, LLC is pleased to announce that BK Corrosion (“BK” or the “Company”), a division of Integrated Corrosion Companies (“ICC”) has been acquired by Enemtech Capital (“Enemtech”) and members of BK Management, including BK President, Brent Bertrand, and Vice President of Business Development, Robert Adams. The transaction was completed on December 2, 2016. BK Corrosion is one of the longest established value-added distributors of cathodic protection products used in the control and monitoring of corrosion on metallic structures across the upstream, midstream, and downstream oil and gas segments, and in the municipal and utility sectors. BK’s main office, warehouse and assembly facilities are located in Houston, TX, with stocking branch locations in Midland, TX and Denver, CO.

Founded in 1925 as the Brance-Krachy Co., Inc., the corrosion products assembly and distribution division was rebranded as BK Corrosion subsequent to an acquisition of the Brance-Krachy Co. in 2014 and the consolidation of all its divisions into ICC. In 2016, ICC offered to spin off BK Corrosion to Management. Brent Bertrand led Management’s efforts to acquire BK and was advised by Statesman, who also introduced Management to Enemtech. On completing the transaction, Bertrand commented, “We are absolutely thrilled with the support Enemtech provided in the acquisition of BK and look forward to gaining their experience to help us continue to grow the business both domestically and internationally.”

About Transaction Participants

Enemtech Capital is a Houston-based family office led by Mahesh Desai, founder of Virgo Engineers, a leading valve manufacturer which grew to a global organization with revenues exceeding $300 million, 1,800 employees, manufacturing plants on 3 continents, and customers in 72 countries before being acquired by Emerson in 2013. The Enemtech team, which also includes Rajesh Walawalker, provides not only capital to execute transactions, but also significant domestic and international operational expertise to support and develop growth strategies on a worldwide basis.

Integrated Corrosion Companies was formed in 2014 after the acquisition of the Brance-Krachy Co., Inc. by Jesse Marion and the consolidation of its divisions into the Integrated Corrosion Companies. The remaining ICC divisions provide corrosion control engineering, consulting, project management, specialty products and off shore services.

Statesman Corporate Finance, LLC is the FINRA licensed broker dealer arm of Statesman Business Advisors and advised both Management and Enemtech Capital in this transaction. Statesman, with offices in Houston and Austin, Texas, is a leading middle-market investment bank providing merger and acquisition and general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement included Walter Tomlinson, Will Jaco, Jim Briggs, and Lee McFarlain.

Frost Bank provided acquisition financing to Enemtech and Management led by Houston Market President Mike Aubuchon and Sr. Vice President, Jack Doherty.

Andrews Myers provided legal counsel to the Buyers led by attorneys Patrick Hayes, Shareholder, and Brenton Pharis, Sr. Counsel.

Boyar Miller provided legal counsel to the Sellers led by attorneys and shareholders Gary Miller and Larry Wilson.