HOUSTON, TEXAS (January 12, 2024) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the sale of BK Corrosion, LLC (“BK Corrosion”) to Herin Family Investments (“HFI”). BK Corrosion was previously owned by Enemtech Capital Inc (“Enemtech”), a Houston-based family office. Statesman served as the exclusive financial advisor to BK Corrosion.
BK Corrosion is a leading manufacturer and distributor of cathodic protection products used in the control and monitoring of corrosion on metallic structures located both underground and underwater for a variety of end-markets including energy, water, wastewater, utilities, and more.
Founded in 1932, BK Corrosion (formally known as Brance-Krachy Co.) is based in Houston, Texas, with a footprint throughout Texas, West Virginia, Georgia, Colorado, and Oklahoma. BK Corrosion has approximately 44 full-time employees who manufacture and distribute cathodic protection products in new construction projects, replacements, retrofits, and redesigns to ensure regulations are met or exceeded.
Over the years, BK Corrosion has developed into a leading national platform in the industry. HFI will partner with management to continue executing on its current strategy – focusing on sustainable, long-term growth.
Commenting on the transaction, Brent Bertrand, President of BK Corrosion said, “Recognizing the critical importance of selecting the ideal partner for BK’s next phase of growth, we discovered a fitting match in HFI. With a track record of fostering the expansion of businesses similar to BK, HFI brings valuable experience in scaling organizations and a genuine commitment to partnership. On behalf of BK, I express gratitude to the Statesman team for their dedication and guidance throughout the process of identifying the right partner for our organization’s next chapter of growth.”
Jason Herin, CEO of HFI, said, “BK’s leadership has assembled an exceptional team that has effectively expanded the business, achieving notable growth in both top-line revenue and geographical reach. Renowned for its superior customer service and product lines, BK holds a highly respected position and leads the cathodic protection industry. We eagerly anticipate supporting the management team as they drive the company’s continued scaling and extended influence in the industry for years ahead.”
About the other transaction participants
Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement included Will Jaco, Managing Member, Peter Chiu, Director, Philip Rodriguez, Vice President and Kailen Kershner, Senior Analyst.
Enemtech Capital Inc (Sugar Land, TX) is a Single Family Office based out of Houston, Texas with numerous investments in a variety of industries globally. Enemtech was founded by Mahesh Desai and includes members of the management team of Virgo Valves and Controls (exited to Emerson (NYSE: EMR).
Herin Family Investments (Spring, TX) is a Single Family Office based in the greater Houston, Texas area with investments in family-owned businesses and Class A and Class B real estate.