HOUSTON, TEXAS (MAY 1, 2017) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Oildom Publishing of Texas, Inc. (“Oildom”) has been acquired by Gulf Publishing Company (“Gulf Publishing”), which when combined makes Gulf Publishing the world’s largest independent media company devoted exclusively to the international energy industry.
Oildom, founded in 1908 by Oliver C. Klinger, grandfather of Oliver Klinger III, the owner and President of Oildom prior to the acquisition, is the parent corporation and publisher of three prominent monthly trade magazines targeting the midstream energy and utility rehabilitation markets; Pipeline and Gas Journal, Pipeline News, and Underground Construction. Gulf’s acquisition also includes Oildom’s two industry-leading conferences Pipeline Opportunities Conference and Underground Construction Technology. Oildom is based in Houston, Texas with readers and circulation of its journals world-wide.
Commenting on the transaction, Oliver Klinger III said, “My main objective in transitioning ownership of Oildom is to ensure the continuation of the legacy started by my grandfather 109 years ago. With Gulf Publishing Company, we have found a capable and knowledgeable home for our employees, readers and advertisers.”
John Royall, president and CEO of Gulf Publishing said of the transaction “The addition of Oildom is part of our strategic plan to expand as the leading provider of business and technical knowledge in the global oil and gas industry. Oildom’s people, products and services are an excellent complement to our organization as they now extend our global leadership position to the midstream and utility sectors.”
About the Transaction Participants
Statesman Corporate Finance, LLC advised Oildom Publishing of Texas in this transaction and is the FINRA licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement included Principal Walter Tomlinson and Managing Directors Lee McFarlain and Jim Briggs.
Gulf Publishing Company, founded in 1916, produces and distributes leading trade journals, industry research, databases, software, publications, conferences and events designed for the needs of the energy industry. Gulf’s flagship publications include World Oil, Hydrocarbon Processing, Petroleum Economist and Gas Processing. Gulf is headquartered in Houston, TX and has offices throughout the world. In 2016, Gulf Publishing Company’s President and CEO John Royall and Houston investor Russell Denson led a management buyout, partnering with Main Street Capital Corporation, and acquired Gulf Publishing from its London based parent Euromoney Institutional Investor PLC.
Main Street Capital Corporation (NYSE: MAIN) is a principal investment firm that provides long-term debt and equity capital to lower middle market companies supporting management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally having annual revenues between $10 million and $150 million. The Main Street team leading the financing for this transaction included Dwayne Hyzak, President, Alejandro Capetillo, Director, and Dylan White, Analyst.
Cavett, Turner & Wybel, L.L.P., (Beaumont, TX) provided tax and accounting advisory services to Oildom led by Partner Larry A. Turner, CPA, CPC, and general business advisory services by Steve A. Molnar.
Porter Hedges LLP (Houston, TX) provided legal counsel to Oildom led by Kevin J. Poli, Partner, Craig M. Bergez, Partner, and Adam K. Nalley, Associate.
Locke Lord LLP (Houston, TX) provided legal counsel to Gulf and Main Street led by Greg Heath, Partner, and Jeannie Diep, Associate.