Rock Hill News & Portfolio News
Rock Hill Capital Group Announces Investment in TMCo Holdings, LLC
Houston, TX (October 9, 2018) – Rock Hill Capital Group (“Rock Hill”) today announced that it has completed a majority recapitalization of TMCo, Inc. (“TMCo” or the “Company”), a specialty manufacturer of orifice fittings used in natural gas measurement.
TMCo was founded in 2003 by the Carroll family and has manufacturing facilities in Wewoka, Oklahoma, fabrication facilities in Simonton, Texas, and sales and administrative offices in Houston, Texas. The Company manufactures orifice fittings, a type of differential pressure meter which measures the rate of flow, for use in the oil and gas industry. TMCo’s product line consists of the SureShot® Dual Chamber orifice fitting, which benefits from a unique patented design, and the SureShot® Single Chamber orifice fitting. Both of the Company’s orifice fittings are offered in multiple sizes and pressure ratings. The SureShot® orifice fitting design meets or exceeds the guideline specifications, under the AGA3/API 14.3 & ISO 5167 standards for manufacturing custody transfer differential products for both the domestic and international market. Additional information on TMCo’s product offerings can be found at www.tmco-usa.com
Charles Maurice, with whom Rock Hill has a long-standing relationship, will join the Company as CEO alongside existing management in connection with the transaction.
“The Carroll family has built a great business with a high-quality product and outstanding customer service. We look forward to building on their success. We are excited to partner with Charles to take advantage of the tremendous opportunities for growth. Going forward, we plan to help the company invest in new and improved products and expand beyond current end markets while remaining dedicated to manufacturing only the highest quality orifice fittings for our customers,” said Randall B. Hale, Managing Director of Rock Hill.
“Charles and the Rock Hill team are a great fit to continue the Carroll family legacy and TMCo’s reputation for high-quality products. We are excited about Rock Hill’s strategic vision for the future of the Company and what it means for our employees and our customers,” commented Mark Carroll.
TMCo represents the fifth investment by Rock Hill’s third fund – Rock Hill Capital III, L.P. Debt financing was provided by Cadence Bank and Mutual of Omaha Bank and legal representation services for the transaction was provided by Winston & Strawn.