June 20, 2013, Chicago, IL – Akoya Capital Partners, LLC has joined with Argosy Private Equity and current management to recapitalize Panhandle Oilfield Service Companies, Inc.  Founded in 1989 in Liberal, Kansas, Panhandle is an oil field services provider which serves a diversified base of customers in nine states.  The Company operates in several high growth areas of oil and gas exploration and production, including the Mississippian Lime formation, the Marcellus shale and the Utica shale formations. The Company’s customers are primarily major oil and gas producers.

The Company is led by its founder, Tim Long.Tim will continue to stay actively involved with the Company by serving as CEO and remaining invested as a shareholder.  Industry veteran and Akoya Sector Leader William Massa will serve as Chairman of the Board.  “We are delighted and honored to be partnering with Tim and Argosy Private Equity on this opportunity”, said Bill Massa. “We believe that Panhandle is well-positioned to be the provider of choice to oil and gas producers in a number of key geographic areas and that it is an excellent platform company for thoughtful acquisitions of complementary businesses.”

Panhandle represents Akoya’s first platform company acquisition in the Environmental and Energy Services sector and its sixth platform company acquisition within the last eighteen months. “The Panhandle acquisition is consistent with our investment strategy of combining world-class executives, well-positioned companies and well-developed value creation strategies to create significant value for management and investors”, said Max DeZara, Managing Partner of Akoya.

AKOYA SPECIALTY CHEMICALS SECTOR

Akoya Capital Partners, LLC is a highly-skilled private investment firm that sponsors transactions in lower and middle market businesses with attractive growth prospects. We bring together industry leaders, investment worthy executives, and private sources of capital to execute acquisition-based strategies to create significant value for sellers, management and investors. We are a highly experienced team with a track record of success in executing transactions and accelerating value creation.

We focus on selected industry sectors where we have deep domain and operating expertise.  Each of our sectors is led by an accomplished industry executive with a track record of building businesses and creating value within the industry. We currently focus on investments in the following sectors:

• Consumer Foods
• Specialty Chemicals
• Workplace Safety
• Environmental Services

ABOUT AKOYA CAPITAL LLC

Akoya is a private investment firm that sponsors transactions in lower and middle market businesses with attractive growth prospects. At the core of our investment strategy is partnership with proven and talented operating executives across various industries as well as executing very specific strategies in Consumer Foods, Specialty Chemicals, and Workplace Safety.

The principals of Akoya have collectively been involved in over 35 acquisitions, divestitures, mergers, direct investments, capital raisings, and restructurings across a broad range of industries, in addition to having hands-on operating, human capital, and organizational development expertise.