Dallas-based petroleum services company MSCS has been acquired by Charlotte-based SPATCO Energy Solutions. Backed by private investment firm Kian Capital, SPATCO—an infrastructure services provider to petroleum, environmental, and EV companies—expands its footprint in Texas after acquiring McKinney Petroleum Equipment and Petro Supply in January.
With 38 employees across bases in DFW, Houston, and San Antonio, MSCS’s services include repair and maintenance on petroleum equipment alongside general contracting in field service station construction, fuel system installation, tank removal, and tank testing. The 38 employees will join SPATCO’s network of more than 810 employees across 30 branches in 14 states.
MSCS is currently licensed in Texas, New Mexico, Arizona, Arkansas, and Oklahoma. Its clients include Valero Energy, Kroger, Racetrac, 7-11, and more.
“Joining ranks with SPATCO will be advantageous for both the MSCS team and our customers, as the partnership will enable us to expand our service offerings and accelerate our growth with the support of the combined organization,” MSCS CEO Mark Spenrath said. “We are thankful to find a partner that shares our cultural values and commitment to customer service excellence. It is clear that Kian’s role in support of SPATCO’s growth and evolution has been a key element of the company’s success, and we are excited to partner with the entire team.”
MSCS is the fifth acquisition for SPATCO and it will result in the quadrupling of EBITDA since Kian’s initial 2020 investment.
Dallas-based Arcis Golf Acquires Pacific Life’s Golf Portfolio
DFW-based golf club owner and operator Arcis Golf acquired Pacific Life’s golf club portfolio, which includes Grayhawk Golf Club in Scottsdale, Arizona, Angel Park Golf Club in Las Vegas, Nevada, and Tijeras Creek Golf Club in Rancho Santa Margarita, California.
This marks Arcis’ 13th club acquisition in less than two years. Arcis has nearly 70 public and private clubs in its portfolio, boasting courses designed by Jack Nicklaus, Robert Trent Jones Sr., Arnold Palmer, Tom Fazio, and Coore & Crenshaw.
Arcis has invested approximately $100 million in the past four years on property upgrades, new amenities, personnel, training, and systems. Investments in its most recent trio of clubs will focus on culinary experiences and course conditioning.
“These complementary additions to our irreplaceable portfolio of clubs strengthens our unique value proposition within each of these markets,” said Blake Walker, founder and CEO of Arcis Golf. “The respective management teams have done an excellent job of creating a truly differentiated offering for their customers. We are privileged and uniquely positioned to continue our collective positive momentum by implementing our family-centric model.”
Riveron Acquired by Affiliates of New York Private Equity Firm Kohlberg & Company
North Texas-based Riveron, a national business advisory firm, has agreed to be acquired by affiliates of Kohlberg & Company. H.I.G. Capital, which invested in Riveron in 2019, will continue as a minority investor in Riveron.
As part of the agreement, a significant percentage of Riveron’s employee base—more than 700 across 12 U.S. offices—will be equity owners in the advisory firm.
“This transaction marks a significant milestone in Riveron’s growth journey and accelerates our path to becoming the preeminent independent financial consulting firm serving corporate management teams, private equity firms, lenders, and other intermediaries,” said Riveron CFO Julie Howard. “Through our new partnership with Kohlberg and continued partnership with H.I.G., we will be better positioned than ever before to pursue our ambitious growth agenda and enhance our strategic value for our employees, clients, and shareholders.”
Since its founding in 1987, Kohlberg & Company’s private equity investments have generated more than $10 billion in realized returns. The acquisition is expected to close in July after it goes through regulatory approvals and customary closing conditions.
Dallas-based BlackBoxStocks Invests $8.5 Million in U.K. Auto Part Manufacturer
BlackBoxStocks, which develops web and mobile based analytical software tools for stock and options traders, has invested $8.5 million in Evtec Group Limited, which provides complete assemblies to auto manufacturers. This investment is the first step towards a merger of the two companies.
As part of a Securities Exchange Agreement the two entities reached, BlackBox will issue 2.4 million shares of Series B Convertible Preferred Stock in return for 4,086 newly issued preferred shares of Evtec Group Ltd. Both types are non-voting.
As a result of their agreement, BlackBox stockholders’ equity will increase by $8.52 million, enabling the company to regain compliance with the $2.5 million minimum stockholders’ equity requirement for continued listing on the Nasdaq.
“This agreement is an important first step in our merger plan with Evtec and demonstrates the strong financial commitment that both companies have to complete it,” BlackBox CFO Gust Kepler said. “In parallel, we are continuing to build our core business in the fintech sector. We believe this dual strategy will provide maximum value for our shareholders by allowing them to participate in the continued operations of Blackbox in addition to the explosive EV and luxury automotive parts sector served by Evtec.”
Evtec Chairman and CEO David Roberts said that the company currently has an order book of more than $500 million.
The Next Phase of Pegasus Park Announced
Dallas-based real estate investment firms J. Small Investments and Montgomery Street Partners, alongside a Lyda Hill Philanthropies affiliate, plan to develop Bridge Labs at life sciences and biotech hub Pegasus Park.
The private lab development will provide 135,000 square feet of research and development space for established life sciences companies, bringing technical jobs and a rise in healthcare access to the surrounding community. Thirty percent of the space is already committed by lease.
Perkins & Will is serving as the architect, Swinerton is serving as the contractor, with support from Project Management Advisors, and JLL is serving as the leasing agent for the project. Wednesday, Dallas City Council approved of the project’s proposed economic incentives and tax abatements.
“We would like to thank the local and state government for their partnership and assistance in the growth of the biotech and life sciences ecosystem in North Texas as we move forward with the development of Bridge Labs at Pegasus Park,” said J. Small Investments President Steve Davis. “Their vision to support a life sciences hub in North Texas to bolster scientific discovery and our economy showcases their commitment to our city. We are proud of the incredible success it has had in laying the foundation for the region’s burgeoning ecosystem.”
Demolition is underway and construction will begin immediately with a scheduled completion date in mid-2024. Two adjoining buildings will be also renovated as part of the project. It will sit next to the 37,000-square-foot BioLabs facility that opened in 2022.
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