Basin Announces the Acquisition of SteelTech Industrial Fabricating Corp.

NEW YORK, September 30, 2014 - Basin Holdings, a global energy and industrial holding company, announced the acquisition of SteelTech Industrial Fabricating Corp. SteelTech will operate through Basin Industries, a division of Basin Holdings that manufactures industrial equipment.

SteelTech specializes in customized racking and container solutions for global automotive and industrial customers. The company has over 100,000 sq. ft of manufacturing space in Mitchell, Indiana and Heltonville, Indiana that contains design, prototype, and repair capabilities. Founded in 1997 as a small family-owned business, SteelTech has grown into an established fabricator of value-add, customized material handling products for top-tier automotive and industrial customers.

Basin Industries partners with management teams at industrial equipment manufactures to improve operational processes. The division is led by a management team with deep operating expertise and experience in implementing a proprietary Production System based on lean manufacturing principles. The Production System helps minimize waste, maximize efficiency, and eliminate inconsistency in the manufacturing process.

SteelTech is led by CEO Jeff LeClair. Mr. LeClair commented, "Basin differentiates itself as a partner through its operational expertise and lean manufacturing experience. Basin’s operating executives have the industry knowledge and financial resources needed to improve operations and expand SteelTech’s customer base.”

Jim Waters, President of Basin Industries, added, “Basin Industries has a history working with material handling equipment manufacturers and we look forward to partnering with SteelTech to build out their capabilities in coordination with our existing assets.”

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.