NEW YORK, November 03, 2014 - Basin Holdings ("Basin Holdings") today announced the acquisition of Frank Henry Equipment USA, LLC ("FHE") by its subsidiary Basin Tools. The acquisition was completed through a merger of FHE and FHE USA LLC, a wholly-owned subsidiary of Basin Tools formed for the purpose of this transaction.
FHE manufactures, distributes, and services customized pressure control equipment, grease injection systems, perforating products, lube trailers, and wireline sheaves and accessories. Founded in 2007, FHE employs 70 people across its locations in Fruita, CO, San Antonio, TX, and Midland, TX.
"FHE has grown quickly since its founding," said Nick Snoke, President of FHE. "We believe this is a wonderful opportunity to provide greater products and services to our valued customers and we welcome the extended reach granted to us by our association with Basin.”
"FHE is a fantastic business and will fit perfectly within the Basin family," said Leif Syversen, President of Basin Tools. “At Basin we are committed to providing our customers a full array of oilfield service products and FHE’s expertise in wireline operations will enhance our product offering.”
About Basin Holdings
Basin Holdings is a privately held industrial holding company focused on providing market leading products and services to energy companies around the world. Our talented, experienced managers oversee a global platform that offers supply chain management services, oilfield services and specialty equipment manufacturing. We are focused on long-term economic value creation and community impact. We apply an entrepreneurial mindset to everything we do. Find us at www.basinholdings.com.