Koil Energy Solutions Acquisition | Energy Deal in TX

Koil Energy Solutions has completed the acquisition of Koil Energy Solutions acquisition, a energy services other business in Texas, for $5 million. Koil Energy Solutions provides deepwater energy production and distribution equipment and services, including subsea support and rental equipment used between offshore production facilities and energy sources. The company supports distribution system installation, engineering services, umbilical terminations, and loose-tube steel flying leads, with operations based in Houston, TX. The $5 million asset-based revolving line of credit was closed as an other acquisition financing step to fund working capital and expand its rental equipment fleet, replacing a prior receivables factoring arrangement that was repaid and terminated.