News

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.

The Pomeroy Collection, Ltd. has been Acquired by Elk Group International

HOUSTON, TEXAS (January 14, 2016) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that The Pomeroy Collection, Ltd. (“Pomeroy”) has been acquired by Elk Group International (“ELK”). Through the acquisition of Pomeroy, ELK will further develop exclusive designs across a broader range of product categories.

Founded in 1994, The Pomeroy Collection of home furnishing products are created by an in-house design team, lead by Todd Pomeroy. The company primarily distributes product throughout North America in a variety of categories, including wrought iron and hand blown glass, lighting, decorative ceramics, fragrance, decorative pillows, seasonal, pet and garden.

ELK owns several of the furnishing industry’s well known style-oriented and specialty brands, including Dimond Home (formerly Lazy Susan), Dimond Lighting, GuildMaster, LampWorks, Mirror Masters, and Sterling.

“Pomeroy’s design driven products are offered at compelling values which fulfills the entry level price point gap in our offering” said Bradford Smith, CEO, ELK. “With now over 12,000 stocking SKUs, customers can access a multitude of products, across several brands in an even greater range of categories and price points,” continues Smith.

Pomeroy added, “ELK will provide a competitive edge in terms of operations and shipping, while allowing Pomeroy’s creative staff to focus on continued development of exciting new and unique product. Customers will also benefit through money saving programs such as consolidated shipments with the company’s other brands.”

About The Pomeroy Collection:

The Pomeroy Collection located in Houston, Texas was founded in 1994 by Todd Pomeroy, Mac Shaw, and Paul Pomeroy. What began as a quest to design the best wrought iron and handcrafted blown glass candle lighting products, produced solely in Mexico, soon grew to include distribution throughout the United States, as well as many countries worldwide. Todd Pomeroy, the Design Director and lead designer for the company, working with a small close-knit team of designers in Houston, creates products in a variety of categories including wrought iron and hand blown glass lighting, decorative ceramics, fragrance, serveware, drinkware, decorative pillows, fountains, and garden. Pomeroy’s designs are all created in house while production is sourced from a variety of trusted manufacturers throughout the world.

About ELK:

ELK Group International, headquartered in Nesquehoning, PA, is a premier designer and manufacturer of indoor and outdoor residential and commercial lighting fixtures, decorative accessories and furniture. Through our vast distribution network, we function as a single source provider for a variety of complimentary furnishing categories. Our award winning team of international designers and engineers create coordinating products with uncompromising detail while ensuring each item is crafted to exceptionally high standards of quality, innovation and design. ELK, founded in 1983 distributes over 9,000 products under ELK Lighting, Landmark Lighting, Alico, Nulco, Artistic, Cornerstone, Dimond Lighting, Dimond Home, GuildMaster, Sterling, Bailey Street, Mirror Masters, ELK Hospitality, Baldinger, Pomeroy and Lamp Works brands. Products are available at a network of fine lighting and furniture showrooms, electrical wholesale distributors, department stores and specialty home improvement companies throughout the world.

About Statesman:

Statesman 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.

DiPure Water Technologies has been Acquired by Ultrapure & Industrial Services, LLC

HOUSTON, TEXAS (November 3, 2015) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that DiPure Water Technologies, LLC. (“DiPure”) has been acquired by Ultrapure & Industrial Services, LLC (“Ultrapure”), a subsidiary of Driessen Water, Inc. headquartered in Northfield, Minnesota. Driessen Water is a privately-held company with over 22 offices throughout the United States that traces its roots back to one of the earliest pioneers of water treatment in America, E.J. Culligan – the founder of Culligan Water. Ultrapure is the industrial arm of Driessen and is a full service water treatment solution and equipment provider.

Ultrapure, which has had an operation in Dallas since 1996, significantly expands its geographic coverage and market share in Texas with the acquisition of DiPure. In addition to DiPure’s established base of Industrial, Commercial & Healthcare customers in Dallas and Houston, Ultrapure also acquired DiPure’s Di regeneration plants in in these respective markets.

Tim Marco, shareholder and former President of DiPure, stated. “We are very pleased to have completed the sale of our business to Ultrapure. Driessen is a long established company in the water industry and Ultrapure is highly experienced in providing water purification solutions to the exacting specifications our customers require. Our customers will be very well served and our employees will now have even greater opportunities for career growth within Driessen”

About DiPure Water Technologies:

DiPure is a privately held commercial/industrial water purification business with office locations in Houston and Dallas, Texas. DiPure was founded in 2007 by Tim Marco and Larry Huppert and sponsored by a consortium of private investors. The shareholders of DiPure were seeking a divesture of the commercial water business in order to focus efforts on newly developed water treatment applications for the oil and gas markets, which they now provide through a separate company, H2O Oilfield Services. Greg Hill, Partner, and Jennie Simmons, Associate, of Locke Lord, LLP served as primary legal counsel for DiPure.

About Statesman:

Statesman 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 Principal Walter Tomlinson, Managing Director Lee McFarlain, 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.

Big City Access, Inc. Has Been Recapitalized By Rock Hill Capital Group

HOUSTON, TEXAS (January 13, 2016) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Big City Access, Inc. (“Big City” or “BCA”) has been recapitalized by Rock Hill Capital Group (“Rock Hill”).

BCA was started in 2002 by Founder and President, Barbara Roberts, and is headquartered in Houston, Texas with an additional office in Universal City, Texas. The Company provides a broad array of scaffolding rental equipment, including frame, system, suspended scaffolds, along with shoring, safety and bridge access equipment. Erection, dismantling and inspection services are also provided for its customers. Mrs. Roberts and her leadership team draw on over 150 years of combined industry experience to provide best-in-class equipment and services across Texas and the Gulf Coast. BCA is one of only three accredited training institutes recognized by the Scaffold & Access Industry Association in the state of Texas, a distinction held by only 52 companies across the United States. Additionally, subsequent to closing, former President and CEO of Safway Services, Marc J. Wilson, will serve as a strategic advisor and Board Member of the Company.

“We are extremely excited to partner with Barbara and her team. She represents the type of entrepreneur-partner Rock Hill looks for when making investments. The BCA team has built a great business and we look forward to helping them grow geographically and into new products and services,” said Jeffery S. Christman, Managing Director of Rock Hill.

“Rock Hill is the ideal partner to help us continue to grow Big City and expand our services portfolio for our customers. Our culture fits very well with Rock Hill – they’re local, tied into the community, hands-on and personally committed to our business and our customers. I couldn’t be more excited about the future of the Company,” commented Barbara Roberts.

Debt financing for the transaction was provided by Texas Capital Bank. Legal counsel was provided by Winston & Strawn LLP for Rock Hill and Weycer Kaplan Zuber & Pulaski, P.C. for Big City.

About Rock Hill Capital:

Founded in 2008, Rock Hill Capital Group, LLC is a private equity firm that targets investments in the growing middle to lower middle market with enterprise values up to $75 million. Rock Hill assists successful entrepreneurial companies located in the southern United States to continue to grow and expand.

Currently, Rock Hill has over $140 million of committed capital under management through Rock Hill Capital I, L.P. and Rock Hill Capital II, L.P. Other current portfolio companies include Alpha Technical Services Corporation LLC, Applied Global Technologies, Inc., Big Lake Services, SouthWaste Services Holdings, LLC, Diversified Well Logging, LLC, Tideland Signal Corporation, Core International, LLC, Duracoatings Holdings, LLC, Park Energy Services, Rail Service & Logistics, LLC and JPH Holdings, LLC.

About Statesman:

Statesman 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.

Alon Brands acquires a multi-store portfolio from Roberts Oil Company, Inc.

HOUSTON, TEXAS (August 31, 2015) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Alon Brands, a subsidiary of Alon USA Energy, Inc. (NYSE:ALJ) (“Alon”) has acquired Roberts Oil Company, Inc. (“Roberts Oil”), an Albuquerque, New Mexico based gas station and convenience store company. Alon Brands is a Dallas, Texas based marketer of motor fuel products with over 300 convenience stores, including 38 in the Albuquerque area.

“After more than 40 years of serving the Albuquerque community, the decision to sell was not an easy one for our family,” said Karon Roberts of Roberts Oil Company. “However, we’re confident that our business, our employees and our customers are in good hands with ALON/7-Eleven, and we’re looking forward to seeing the positive changes ALON has planned for the stores.”

According to Eric Corley, regional manager for Alon Brands in Albuquerque, the company will continue to employ all Roberts Oil team members, including store associates and managers. Additional jobs will also be created as a part of the acquisition.

“This expansion is part of a significant investment we’re making in the Albuquerque region,” said Corley. “In addition to growing the ALON/7-Eleven footprint by more than 50 percent, we also just finished remodeling all of our locations in the area and built a brand new store in Rio Rancho. I’m proud of the commitment the company has made and will continue to make to this community and our customers here in Albuquerque.”

About Roberts Oil Company:

Roberts Oil Company is a family-owned gas station and convenience store business that has operated stores in the Albuquerque area since 1971, when Bill Roberts acquired his first property. The Company operated stores under the Philips 66, Kicks 66, and the Company’s own Pump-N-Save brand names. Robert Lucero of the Rodey Law Firm served as primary legal counsel for Roberts Oil. Dave Welde and Tony Royle of the accounting firm Moss Adams provided accounting and tax advice for Roberts Oil.

About Alon Brands, Inc:.

Headquartered in Dallas, Alon Brands markets ALON motor fuel products at more than 800 locations. The largest U.S. licensee of 7-Eleven, the company owns and operates more than 300 convenience stores, including 38 in the Albuquerque region. For more information about Alon Brands, visit www.AlonBrands.com.

About Statesman:

Statesman 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 small and middle-market companies. The Statesman team for this transaction included Principal Will Jaco and Associate Walker French.