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.