News

Stewart Tubular Products has been acquired by an affiliate of Aterian Investment Partners

HOUSTON, TEXAS (November 9, 2016) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Stewart Tubular Products (“Stewart” or the “Company”) has been acquired by an affiliate of Aterian Investment Partners (“Aterian”). The transaction was completed on November 2, 2016.

About Transaction Participants
Stewart Tubular Products is a leading manufacturer of critical, quick-turn premium tubular accessories and threaded applications for downhole oil and gas completion activities. The acquisition fits with Aterian’s investment approach of finding strong, market leading businesses with talented management teams which Aterian can support to accelerate growth. Founder Steve Samuel will continue as Stewart’s President. Other key management members will also remain with the business. “This transaction infuses new energy and business development experience into the company and is a critical step in Stewart’s continued development. Aterian has demonstrated a track record of investing in operations and growing businesses alongside management. Aterian’s support will allow Stewart to continue providing high quality products to our existing customers, as well as pursue additional business initiatives and service offerings,” Samuel said.
Founded in 1988, Stewart manufactures products which are mission-critical to the durability and performance of a well as evidenced by their requirements and applications in high complexity and high pressure drilling environments worldwide. Stewart deploys a collaborative, solutions-oriented service model often providing turnkey solutions to major integrated oil & gas companies, as well as companies that service them. Stewart has long been recognized for its reputation in providing the highest quality product with unmatched customer satisfaction. Stewart operates from a 127,000 sq. ft., state-of-the-art, tubular accessories manufacturing facility in northwest Houston.
Aterian Investment Partners invests in industry leading, middle-market businesses generating $25 – $500 million in revenues with strong, proven franchises. Aterian’s principals possess extensive experience investing in complicated and operationally intensive situations. Their deep transactional knowledge ranges from corporate carve-outs to restructuring to pioneering strategic investments that build and enhance value for all stakeholders.
Statesman Corporate Finance, LLC is a leading middle-market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition sell-side, buy-side, and general corporate financial advisory services to middle-market companies. The Statesman team managing this engagement was led by Managing Director Will Jaco and Associate Walker French.
Weil Gotshal & Manges, LLP, New York, NY, advised Aterian and Lee & Desenberg, PLLC, Houston, TX, advised Stewart.

Operating Assets of the Kerrville, Texas Manufacturing Facility of Vention Medical, Inc. have been acquired by All-Plastics, LLC

HOUSTON, TEXAS (September 19, 2016) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that certain operating assets of the Kerrville, Texas manufacturing facility of Vention Medical, Inc. (“Vention”) have been acquired by All-Plastics, LLC. (“All-Plastics”).

About Vention Medical, Inc.:

Vention Medical, Inc. engages in the design, engineering, and manufacture of medical devices and components in the United States, Puerto Rico, and Costa Rica. The company manufactures non-compliant, semi-compliant, and compliant medical balloons, as well as balloon catheters, heat shrink tubing, polyimide tubing, and multi-layer medical tubing for use in the manufacture of minimally invasive medical devices, procedures, and medical technology; and provides integrated services that range from product design, through assembly and packaging, cleanroom injection molding, and sterilization for disposable and reusable medical products, and the manufacture of automation equipment. It provides contract manufacturing services to customers throughout medical, pharmaceutical, diagnostic, and biotech industries. The company sells its products online. Vention was formerly known as The MedTech Holdings Inc. and changed its name to Vention Medical, Inc. in February 2011. The company was founded in 1979 and is headquartered in Salem, New Hampshire with facilities in Salem, New Hampshire; Chattanooga, Tennessee; Plymouth, Minnesota; Marlborough, Massachusetts; Sunnyvale, California; Boulder, Colorado; South Plainfield, New Jersey; Grand Rapids, Michigan; Kerrville, Texas; West Haven, Connecticut; Boyle, Ireland; Barreal de Heredia, Costa Rica; Vega Baja, Puerto Rico; and Israel.

About All-Plastics, LLC:

All-Plastics, LLC is a world class leader in technology driven manufacturing and project management. With unparalleled industry recognized experience in advanced molding and assembly, All-Plastics has become a dominant force in the medical, industrial, packaging and consumer markets. With over 50 years of experience, All-Plastics delivers tailored partnerships by providing value-added solutions in design, precision component manufacturing, assembly, packaging and tool building. For more information about All-Plastics, visit www.all-plastics.com.

About Statesman:

Statesman Corporate Finance, LLC is a leading middle market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition sell-side, buy-side, and general corporate financial advisory services to middle-market companies. The Statesman team managing this engagement included Managing Director Sid Shaver and Associate Walker French.

Compressor Engineering Corporation has Secured Senior Debt Financing From Bank of America Merrill Lynch

HOUSTON, TEXAS (July 26, 2016) – Statesman Corporate Finance, LLC is pleased to announce that Compressor Engineering Corp. (“CECO”) has secured senior debt financing from Bank of America Merrill Lynch. Statesman served as financial advisor to CECO.

Founded in 1964 and wholly owned by the Hotze family, CECO delivers superior products and services to the gas transmission, midstream, gas processing, and petrochemical industries. With business units specializing in compressor parts and repair, pipeline construction and maintenance, training and technical services, mechanical field services, and emissions testing, CECO is uniquely equipped with the engineering, manufacturing, technical, and support services necessary to improve the performance of its midstream, industrial, and defense industry customer base. CECO is headquartered in Houston, Texas which is where its primary manufacturing facilities are located. The Company has branch offices and distribution facilities in Odessa, TX, Walker, LA, and Birmingham, AL.

CECO operates in two complementary divisions and is led by brothers Richard and Mark Hotze. CECO Engine Parts and Repair (“CEPR”) which engineers and manufactures parts for industrial compressors and natural gas engines, and CECO Pipeline Services (“CPSC”) which provides pipeline fabrication, maintenance and repair, replacement, and refurbishment. Throughout CECO’s 50+ year history, the Company has led the industry with engineering solutions, design improvements, superior materials, and state-of-the-art equipment. CECO has navigated multiple business cycles and operational challenges over the past 52 years and proudly reported its best year ever in 2015.

The Statesman team managing this engagement included Principal Will Jaco, Managing Director Lee McFarlain, and Associates Peter Chiu and Walker French.

The senior debt was provided by Bank of America, led by Senior Vice President Tim Thurman. Winstead, PC served as legal counsel for CECO and Haynes and Boone served as legal counsel for Bank of America.

About Bank of America:

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services.

About Statesman Corporate Finance:

Statesman Corporate Finance, LLC is a leading middle market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition, debt and equity placement, valuation enhancement planning, financial restructuring, business valuations, and general corporate financial advisory services to middle-market companies.

San Antonio Steel Company, Ltd. has been Acquired by El Prado Steel Company

AUSTIN, TEXAS (November 7, 2016) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that San Antonio Steel Company, Ltd. (SASCO) has been acquired by El Prado Steel Company.

About San Antonio Steel Company, Ltd.:

San Antonio Steel Company, Ltd., (SASCO) was founded in 1965 as a wholesale distribution company that primarily sold nails and wire. L.C. “Chaz” Neely, Jr. purchased the company in 1979, and grew SASCO into the largest wholesale distributor of agricultural fencing products in the United States. SASCO offers more than 700 steel items, including some of the most respected brand names in agricultural fencing products, including SASCO’s proprietary brands StaTite50┬« – the 50 year Fence and Texas Classic┬« – the Official Fence of Texas. SASCO operates from an 80,000 square-foot facility on 20 acres in southeast San Antonio and primarily services rural lumberyards, feed stores and cooperatives that supply farmers, ranchers and construction companies throughout the United States.

About Statesman:

Statesman Corporate Finance, LLC is a leading middle market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition sell-side, buy-side, and general corporate financial advisory services to middle-market companies. The Statesman team managing this engagement included Managing Director Lawrence (Larry) Schumann.

SCR Construction Co., Inc. has been Acquired by Gibson & Associates, Inc.

HOUSTON, TEXAS (September 2, 2016) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that SCR Construction Co., Inc. (“SCR”) has been acquired by Gibson & Associates, Inc. (“Gibson”). Both SCR and Gibson are industry leaders in their respective service lines and disciplines.

About SCR Construction, Inc.:

SCR Construction Co., Inc. was incorporated by Steve Roberts in 1986 in Sugar Land, Texas. SCR was created with the vision of providing high quality highway and bridge repairs to local and state governmental entities. SCR has developed a well-earned reputation for innovation in bridge repair, using new and creative technology to implement state of the art techniques. The “quality initiative” approach by management and field personnel has built a solid level of comfort with the Texas Department of Transportation. Over the years, the company has grown to serve the entire state of Texas. SCR’s crews repair roads and bridges on highways from Beaumont to El Paso, from Harlingen to Dalhart. In addition to an impeccable reputation for quality, SCR has several key employees each with over 30 years of experience in the industry. SCR specializes in the following services: bridge rehabilitation, roadway repairs, bridge repairs, new bridge construction, marine bridge repair, concrete slip form rail, cable barrier, and suspension bridge repair.

About Gibson & Associates, Inc.:

Gibson & Associates, Inc. is a heavy highway contractor located in Balch Springs, Texas. The corporation was established in 1985 by William J. Gibson. Gibson works throughout the state of Texas for many governmental agencies and municipalities. Gibson is licensed to work in Arkansas, Oklahoma, Kansas, Louisiana, Mississippi, Florida and Tennessee. Gibson is a general contractor that ventures into all types of heavy highway construction projects. Gibson has a focused specialty in bridge rehabilitation projects. Gibson has completed 1,650 projects in their 30 year history, including 750 bridge rehabilitation projects. The Company has expertise in the following service areas: bridge rehabilitation, epoxy injection, concrete paving, bridge jacking, structural repairs, parking structures, dams, tunnels, structural repairs of high rise buildings, structural strengthening systems and trolley and rail work. Gibson holds itself to the highest standards of quality, safety and integrity.

About Statesman:

Statesman Corporate Finance, LLC is a leading middle market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition sell-side, buy-side, and general corporate financial advisory services to middle-market companies. The Statesman team managing this engagement included Managing Director Sid Shaver and Associate Walker French.

DeBusk Services Group, LLC Has Been Recapitalized By Turnbridge Capital

PASADENA, TEXAS (June 24, 2016) – Statesman Corporate Finance, LLC is pleased to announce the equity recapitalization of DeBusk Services Group, LLC (“DSG”) by Turnbridge Capital Partners, along with DSG founders, management, and current investors. The recapitalization, led by Turnbridge, provides expansion of DSG’s capital resources to facilitate future growth. Statesman served as the lead Investment Banking advisor to DSG, and Brown, Gibbons and Lang, (Cleveland, OH) served as co-advisor.

DSG was founded in 2012 in Pasadena, TX by industry veteran Andrew DeBusk, who will continue as a major shareholder and the Company’s CEO. DSG has grown significantly over its four year history and is currently operating from 16 facilities across the country. DSG provides a comprehensive suite of maintenance and turnaround services which include hydro-blasting, hydro-cutting, specialty FCC catalyst handling, chemical cleaning, transportation, tank cleaning, and vacuum services. It primarily serves the downstream petrochemical and refinery markets. Commenting on the Company’s rapid growth and future outlook, Andrew DeBusk said, “Fundamentally, it comes down to partnering with quality people. With that top of mind, we are extremely pleased to be joining forces with Turnbridge and adding their experience, capabilities and additional resources to the DeBusk Services family.”

The Statesman team managing this engagement included Principal Walter Tomlinson, Managing Director Lee McFarlain, Vice President Peter Chiu, and Associate Walker French.

Financing for the transaction was led by Cadence Bank, N.A. (Barry Kelly, Gale Smith and Taylor Ducoff) as Administrative Agent and Joint-Lead Arranger with Amegy Bank, a division of ZB, N.A. (James Day, Michael Threadgill, and Cody Biller) as the other Joint-Lead Arranger, and with participation from Green Bank, N.A.

Andrews Kurth, LLC provided legal counsel for DSG led by Partner Nancy B. Bostic Houston, TX

Jones Day provided legal counsel to Turnbridge, led by Partner Michael P. Considine Dallas, TX.

Locke Lord LLP provided legal counsel to the debt providers, led by Ryan Morgan Houston, TX.

About Turnbridge Capital:

Turnbridge Capital Partners is an energy-focused private equity firm with offices in Dallas and Houston, Texas. Turnbridge seeks to invest alongside experienced management teams in companies that provide products and services to the upstream, midstream and downstream energy market segments. The Turnbridge team leading this transaction were Partners Mitch Cox, Rob Horton, and J. Kent Sweezy, along with Senior Associate Houston Johnson and Associate Matt Reckling.

About Statesman Corporate Finance:

Statesman Corporate Finance, LLC is a leading middle market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition, debt and equity placement, valuation enhancement planning, financial restructuring, company valuations and general corporate financial advisory services to middle-market companies.