News

Petoil Overseas and Framework Capital join to purchase South Texas acreage

HOUSTON, TEXAS (June 5, 2015) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Falls City E&P, LLC (“Falls City”), a Houston-based upstream exploration and development company has entered into a definitive agreement with undisclosed sellers to acquire core South Texas acreage. Falls City is owned by Petoil Overseas, the US affiliate of Petoil, Inc. (“Petoil”), Framework Capital (“Framework”), a leading Houston-based private equity firm, and Reveille Oil & Gas, who will serve as the operator for Falls City. Statesman served as financial advisor for Reveille Oil & Gas, which is led by long-time energy executive David Daniel.

Based in Ankara, Turkey, Petoil is an independent upstream company with exploration and production assets around the globe. Founded in 1990, their management team is led by Chairman Dr. Guntekin Koksal and General Manager Dr. Ali Ak. “We are pleased to bring our global operating experience to Falls City and our newly acquired South Texas acreage. The US has been a market of interest for us and this is the right timing for us with the right partners,” said Dr. Ak. “In this market, upstream investments require an insight and execution plan that addresses several different scenarios. We believe in the fundamentals of this project and are looking forward to its development,” said Jerry McGee, Managing Partner of Framework Capital. Framework will provide technical and management resources to support the operation working in conjunction with Reveille Oil and Gas. “This is a project we are very excited about and having great partners makes this a perfect scenario for us,” said Reveille President David Daniel. Mr. Daniel previously held senior positions in operations and engineering with Unocal and other private equity-backed companies.

About Petoil:
Petoil was first established in 1990 as a member of Pet Holding Group, a renowned Turkish company based in Ankara that is also active in mining, construction, land development and tourism. Petoil’s proven management team has a strong track record in acquiring, exploring and developing oil and gas opportunities. Among their many other accomplishments, Petoil was the first international oil company to operate in Azerbaijan and Kurdistan. Additional information can be found at http://www.petoil.com.tr/

About Framework Capital:
Framework Capital is an investment firm that Builds Great Businesses™ by focusing leadership on alignment and execution and working alongside to encourage or assist them when necessary. Framework provides capital investment and operational know-how that result in a highly-engaged workforce. Framework is headquartered in Houston, Texas with offices in Newport Beach, California and Henderson, Nevada.

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, capital sourcing, and general corporate financial advisory services to middle-market companies. The Statesman team for this transaction was led by Managing Director Sid Shaver, and included Vice President Peter Chiu and Associate Walker French.

The Detering Company Purchases South Texas Brick & Stone

HOUSTON, TEXAS (January 5, 2015) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that (an affiliate of) The Detering Company of Houston, LP (“Detering”) has acquired the operating assets of South Texas Brick and Stone, LLC (“STBS”). The transaction closed on December 16, 2014.

Detering, headquartered in Houston, Texas, has served the Houston community since 1926. The Company sells a wide variety of high-quality building materials, including millwork, brick and stone, windows, cabinets and custom manufactured products, allowing customers to get the “one-of-a- kind” look they seek. Detering is owned and operated by Carl Detering, Jr. Carl’s daughter, Cassie, and son Carlos, are also active in the business. For more information on Detering, please visit: http://www.detering.com.

STBS, also located in Houston, was founded by Ralph Sauer, Damian Law and Trey Magee, all of whom will remain with the business. STBS specializes in selling high-quality artisan- crafted stone and brick. Their products include manufactured, antique and thin brick; manufactured and natural stone; and pavers. For more information on STBS, please visit: http://www.southtexasbrick.com.

“We are excited about South Texas Brick & Stone becoming a Detering company. By adding their outstanding personnel and superior product offerings to our current brick and stone program, we will be able to better serve the custom home builders in and around Houston”, said Carl Detering, president and owner of The Detering Company. Carl added, “We greatly appreciated Statesman’s experience and expertise in advising us on this very strategic acquisition.”

Statesman Corporate Finance, LLC served as the exclusive financial advisor to The Detering Company of Houston, LP. The Statesman transaction team was led by Principal Will Jaco and included Associates Peter Chiu and Walker French. Charles Koerth and Taylor Lamb of Gray Reed & McGraw, P.C. served as legal counsel for Detering and financing for the transaction was provided by Amegy Bank, N.A.; Gary Justice lead banker.

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 located throughout Texas, Louisiana, Oklahoma, and New Mexico.

Schlehuber Oil Tools, LLC is Acquired by Team Oil Tools, Inc.

DENVER CITY, TEXAS (October 7, 2014) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Schlehuber Oil Tools, LLC (“SOT”) has been acquired by Team Oil Tools (“Team”). Founded in 2005, Schlehuber has grown to become one of the leading providers of downhole completion tools and services in the Northern Permian Basin and Eastern New Mexico markets. SOT’s commitment to customer service, safety and on-time delivery fits in perfectly with Team’s operating philosophy, and the acquisition of SOT significantly strengthens Team’s Permian Basin operations.

Byron Cowart, CEO of Team, commented, “We are absolutely thrilled to have Schlehuber Oil Tools become a part of Team Oil Tools.  We are committed to expanding our reach in the Permian Basin, and Robert and Carrie Schlehuber have assembled an outstanding team of completion experts and service professionals.  SOT will be a major part of our continued growth in West Texas.”

Robert Schlehuber, SOT’s founder and president, will become the Regional Manager of Team’s Permian operations.  Schlehuber commented, “We are extremely excited about joining up with both Team and Intervale.  Together, they bring the experience and resources we have needed to further our growth, and Team’s technology portfolio will significantly enhance our downhole completion capabilities.  We are also tremendously grateful for Statesman’s efforts in helping us identify the ideal partner for our business.  They were extremely professional and their assistance in helping prepare us for a sale and navigate through the complexities of a transaction like this was invaluable.”

Tuan Tran, principal at Intervale Capital added, “The combination of Team and Schlehuber makes perfect strategic sense. Schlehuber enhances Team’s service and distribution capabilities in the Permian, and Team will continue to invest in additional service centers in the Permian to better serve the combined customer base and support Schlehuber’s expansion.”

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 transaction team for this transaction included Principal Walter Tomlinson, Vice President Peter Chiu, and Associate Walker French.

About Team Oil Tools, Inc.:

Team Oil Tools, Inc. designs, manufactures, sales and services downhole completion products and it’s core products include ORIO toe valves, packers, composite plugs, swellable packers and patented cemented sleeves for hydraulic fracturing applications. Team is headquartered in The Woodlands, Texas and has manufacturing operations in Tulsa, Oklahoma, and 10 service centers located in major U.S. oil and gas markets, including the Permian Basin, Eagle Ford, Mid Continent, Utica, Marcellus and Haynesville. Company website:  www.teamoiltools.com/

About Intervale Capital:

Intervale Capital is an energy-focused private equity firm with offices in Boston and Houston.  Intervale invests exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has raised $1.2 billion of committed capital since its inception in 2006 and is currently investing from its third fund.  www.intervalecapital.com

XTIVIA, Inc. Acquires HYDUS, Inc.

HOUSTON, TEXAS (April 24, 2015) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Hydus, Inc. (“HYDUS”), a Sugar Land, Texas based Enterprise Information Management (EIM) company, has been acquired by Xtivia, Inc. (“XTIVIA”), a national technology consulting company headquartered in Colorado Springs, CO with offices in New York, New Jersey, Missouri, and Texas. XTIVIA is a subsidiary of Matrix IT, Ltd. of Tel Aviv, Israel which is publicly traded on the Tel Aviv Stock Exchange (TASE:MTRX).

The combination of XTIVIA and HYDUS brings together two highly synergistic companies, each recognized as information technology innovators. Together, XTIVIA and HYDUS will meet a wider set of customer needs by integrating products, technologies, and services. The combined company has significant opportunity to grow into new markets, particularly around Service Oriented Architecture (SOA), Data Warehousing (DW), Business Process Management (BPM) and Master Data Management (MDM). By offering these combined solutions, XTIVIA is poised to provide solutions for customers desiring to create manage and deliver reliable, secure and interactive information, communications and applications.

About Hydus, Inc.
Hydus, an Enterprise Information Management (EIM) company, helps organizations by providing strategic end-to-end solutions. Hydus brings over 15 years expertise in supporting many Fortune 500 firms both in US and Canada. Hydus provides clients with a diverse range of strategic consulting and implementation services across the entire EIM spectrum encompassing; Enterprise Integration (EI/SOA), Business Process Management (BPM), Data Warehousing (DW), Business Intelligence (BI), and Master Data Management (MDM). Understanding the Strategic and Operational challenges faced by many organizations and identifying, recommending, and implementing the most practical and cost effective technology solution for clients is a key differentiator. Hydus is based in Sugar Land, Texas and the company’s website is: www.hydus.com

About XTIVIA, Inc.
Since 1992, XTIVIA has established a proven, global reputation as a company delivering cutting-edge professional solutions to our clients’ specific requirements, regardless of the complexity of the projects. XTIVIA’s success has stemmed from a proven ability to deliver quality professional services, allowing the client to leverage technology successfully, competitively, and profitably. XTIVIA has received additional awards this year from Liferay, CIO Review and Inc. 5000. The company’s website is: www.xtivia.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, Vice President Peter Chiu, and Associate Walker French.

Statesman Business Advisors Advises General Crane Service, Inc. on Sale to Employees

HOUSTON, TEXAS (October 31, 2014) – Statesman Business Advisors (“Statesman”) served as the exclusive financial advisor to General Crane Service, Inc. (“General Crane” or “Company”) in its sale to the Bay Area/General Crane Service, Inc. Employee Stock Ownership Plan (“ESOP”). General Crane manufactures and sells overhead bridge cranes, gantry cranes, jib cranes and runway systems throughout Texas and the Southwest U.S. The transaction officially closed on October 31, 2014.

President John Nix, expressed, “I had explored different exit strategies and found that the Employee Stock Ownership Plan allowed me to accomplish my personal goal of exiting my business at a fair price, while at the same time allowing those dedicated employees that were vital in growing the Company to now have a chance to share in the future success of General Crane.”

Nix further emphasized, “We were fortunate to have Statesman advising us on this transaction. While there are many benefits to selling to an ESOP, they can be complex. Statesman was with us from start to finish, arranging financing, explaining the process and even assisting in negotiating the final agreed upon price with the ESOP trustees.”

Statesman Business Advisors Managing Director, Gary Canon, stated, “General Crane is a great company and this transaction creates a terrific opportunity for their employees. Successfully closing a transaction such as this is truly a team effort. We feel privileged to have been chosen to assist the Company in a successful transition to employee ownership.” Securities aspects of the transaction were handled by Statesman Corporate Finance Principal, Will Jaco.

About General Crane Service, Inc.
General Crane Service, Inc. (“General Crane”), headquartered in Houston, Texas, has been a leader in providing overhead crane products and service solutions to customers throughout the Southwestern U.S. With its emphasis of service after the sale, the Company has differentiated itself in the market as the “go-to” service provider for customers in the oil & gas, wholesale, distribution, and other vital industries.

About Statesman Business Advisors
Statesman Business Advisors, LLC offers an array of services, including business valuation, Small Business Administration loan packing and servicing, financial due diligence, and value enhancement consulting, all focused on serving the corporate finance needs of privately held companies and financial institutions operating in the middle-market.

Securities transactions are executed through Statesman Corporate Finance, LLC, an affiliate of Statesman Business Advisors, LLC and a member firm of the FINRA and SIPC.

About Statesman Corporate Finance
Statesman Corporate Finance, LLC is a leading middle market investment bank headquartered in Houston, Texas and with an office in Austin, Texas. Statesman provides merger and acquisition sell-side and buy-side advisory services and general corporate financial advisory services to small and middle-market companies.

Rail Service and Logistics,LLC is Recapitalized by Rock Hill Capital Group

HOUSTON, TEXAS (October 8, 2014) – Statesman Corporate Finance, LLC is pleased to announce that Rail Service and Logistics, LLC (“RSL”), a railroad services provider involved in the removal and disposal of wooden railroad ties, has completed a majority recapitalization with Rock Hill Capital Group (“Rock Hill”).  The transaction was completed on September 12, 2014 and Statesman served as the exclusive financial advisor to RSL.

RSL, headquartered in St. Louis, is a railroad services provider specializing in the removal and disposal of wooden railroad ties as a part of the railroad industry’s annual track maintenance programs.  The company coordinates and works in concert with railroad track maintenance teams collecting, cataloging, and disposing of decommissioned railroad ties at the company’s four grinding facilities.  RSL is managed by two industry veterans – Phil Rector, President and Greg Smith, Vice-President who have a combined 45 years in the railroad services and tie-to-biomass fuel business segment.

In conjunction with the recapitalization by Rock Hill, RSL also acquired the assets of Rail Tie Solutions (“RTS”) from Savage Transportation Management Inc., an affiliate of the Savage Companies (Midvale, UT).  This acquisition will expand RSL’s capabilities and geographic coverage to include four grinding facilities and operations from the Mid-West through the Western United States.

“We were appreciative of Statesman’s efforts in helping us find a partner that believed in our strategy and that could both support our acquisition of the RTS assets and our future expansion into other related services lines. With Rock Hill’s support and our expanded capabilities, we believe we can grow RSL into a premier provider of rail services,” said Greg Smith.

About Rock Hill Capital:

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

About Statesman:

Statesman is a leading middle market investment bank headquartered in Houston, TX that provides merger and acquisition sell-side, buy-side, and general corporate financial advisory services to small and middle-market companies.  The Statesman transaction team included Principal Will Jaco, Vice President Peter Chiu, and Associate Walker French.