News

Certified Pipe Service Houston, Inc. Secures Mezzanine Debt And Equity Financing From Independent Bankers Capital Funds

HOUSTON, TEXAS (April 2014) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Certified Pipe Service Houston, Inc. (“CPS”) has secured mezzanine debt and equity financing from Independent Bankers Capital Funds (“IBCF”).

CPS is a diversified steel pipe service company and structural steel fabricator located at Jacinto Port in Channelview, Texas. The company has expanded its offerings beyond oil and gas to serve a wide variety of industries including mining, civil, subsea, and marine construction. While core services still revolve around the storage, repair and service of tubular goods, CPS has also developed extensive fabrication, blasting and coating, logistics, inventory management, and specialty services related to pipe handling. CPS’ greatest asset has proven to be this diversification which has allowed the company to grow and prosper through multiple business cycles. The new capital will be used for growth and will partially finance the company’s expansion into a second and larger state-of-the-art pipe handling facility in Baytown, Texas.

IBCF, an investment capital firm located in Dallas, Texas, provides mezzanine lending and preferred equity for established lower-middle-market companies, primarily located in Texas. IBCF operates two Small Business Investment Companies (“SBIC”) licensed by the United States Small Business Administration. Established in 2000, IBCF’s investors are Texas-based independent community banks and financial institutions. Independent Bankers Capital Fund, L.P. (“Fund I”) was licensed in 2000 and has been fully invested into 12 companies. Independent Bankers Capital Fund II, L.P. (“Fund II”), which was licensed in 2009 and began operations January 2010, has $63,000,000 of investable capital.

Statesman served as the exclusive financial advisor to CPS. The Statesman transaction team was led by Principal Will Jaco and Associate Walker French. Amegy Bank of Texas, NA (“Amegy”) provided the senior debt for the transaction and Kenny Kucherka and Mark Magee led Amegy’s financing team.

Statesman is a leading middle market investment bank and a member of FINRA and SIPC, headquartered in Houston, Texas. Statesman provides merger and acquisition sell-side and buy-side advisory services, capital sourcing, valuation, and general corporate financial advisory services to small and middle-market companies.

Statesman Contact:
Will Jaco
Principal
(713) 595-1342
wjaco@statesmanbiz.com

 

TerraSpark Companies Is Acquired By CGG Jason (Netherlands) B.V.

PARIS, FRANCE (February 2014) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that CGG Jason (Netherlands) B.V. (“CGG”) has completed its acquisition of TerraSpark Companies (“TerraSpark”), a Lime Rock Partners portfolio company. The transaction was completed on January 15, 2014.

CGG (NYSE: CGG) has enhanced its software portfolio with the addition of TerraSpark’s Insight Earth®, advanced 3D visualization and interpretation software. Insight Earth greatly enhances seismic interpretation systems and provides the interpreter with guided tools that can automate the fault extraction process, precisely define salt bodies, deliver fast depictions of paleo-depositional environments, and enable the visualization of discrete fracture networks in unconventional plays. Insight Earth brings the most complicated structures into clear definition and delivers superior results.

With Insight Earth joining its Hampson-Russell and Jason software, CGG offers a full and complementary suite of tools to provide its worldwide clients with best-in-class reservoir characterization technology. These include advanced seismic interpretation, petrophysical analysis, well-to-seismic ties, inversion, reservoir property determination, and geomodeling.

Sophie Zurquiyah, Senior Executive Vice President of CGG’s Geology, Geophysics & Reservoir Division (GGR), said: “Insight Earth and its industry-renowned visualization and interpretation capabilities strongly complements our reservoir characterization software to address the most difficult subsurface challenges, enabling our clients to reduce the risks and costs associated with the discovery and production of hydrocarbons.”

CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical, and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition, and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs 9,800 people around the world, all with a passion for Geoscience and working together to deliver the best solutions to its customers.

TerraSpark is headquartered near Boulder, Colorado with a sales and support center in Houston, Texas. The company creates software tools that serve exploration and production professionals in the energy industry. TerraSpark’s breakthrough product, Insight Earth, enables visualization-guided volume interpretation of structure and stratigraphy, as well as integrated directional well-path planning. TerraSpark licenses Insight Earth and its modular components to end-users, and licenses individual technologies, such as interpretation services, to ISPs. The company leverages Insight Earth in its consulting services, namely 3-D interpretation, directional well path planning, and velocity model building.

Statesman Corporate Finance, LLC served as the financial advisor to TerraSpark. The Statesman transaction team included Managing Director Sid Shaver and Associate Walker French. TerraSpark’s key management team members involved in the process included Dan Piette, President and CEO, Geoffrey A. Dorn, Ph.D, Chief Technology Officer, and Steven Wells, Chief Financial Officer, V.P. Human Resources.

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

Statesman Contact:
Sid Shaver
Managing Director
(713) 590-4697
sshaver@statesmanbiz.com

 

Wesso, Inc. Is Acquired By Planeview-WMI, LLC

HOUSTON, TEXAS (December 2013) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that the assets of Wesso, Inc. (“Wesso”) of Conroe, TX have been acquired by Planeview-WMI, LLC (“Planeview”), a newly formed investment company. The transaction was completed on November 27, 2013.

Wesso is a leading provider of tungsten carbide centrifuge tiles and related wear parts to the domestic and international decanter centrifuge OEM and repair markets. The tungsten carbide tiles are consumable parts designed to protect the centrifuge from excessive wear resulting from highly abrasive industrial applications. Wesso provides the most abrasion and corrosion resistant centrifuge tiles available as per ASTM® abrasion tests. The Company’s primary end market is the oil and gas energy industry, but additional revenues are also derived from food rendering plants, wastewater treatment plants, and the coal industry.

David Hurd, President of Wesso commented, “Statesman did a great job throughout the process of guiding us through the many complexities of selling a business. Their experience in these types of transactions was critical in helping us to overcome some challenges and find solutions that were acceptable to both sides. With Statesman’s help, we’ve found a great partner to assist us in the continued growth of the business.”

Planeview, a recently formed private investment company located in Columbus, NE, was established to facilitate the acquisition of Wesso. Alex Bernstein, Planeview’s President, will be relocating to Houston in connection with the acquisition. The Bernstein family has been in the metal parts manufacturing industry since 1965, specializing in high-precision metal parts for aerospace and medical OEM’s. Alex Bernstein represents the third generation of ownership and management of the Bernstein family holdings.

Statesman Corporate Finance, LLC served as the exclusive financial advisor to Wesso, Inc. The Statesman transaction team included Principal Will Jaco and Associate Karla Bayer. Robert C. Beasley of Weycer, Kaplan, Pulaski & Zuber, P.C. located in Houston, TX served as legal counsel for Wesso, Inc.

Statesman Corporate Finance, LLC is a leading middle market investment bank headquartered in Houston, 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.

Statesman Contact:
Will Jaco
Principal
(713) 595-1342
wjaco@statesmanbiz.com

 

Bio-Medical Services, Inc. Is Acquired By ALK-Abello A/S

AUSTIN, TEXAS (March 2014) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that the assets of Bio-Medical Services, Inc. (“Bio-Medical Services”), an Austin based veterinary reference laboratory that pioneered in vitro serum IgE allergy testing in the veterinary industry, have been acquired by ALK-Abelló A/S (“ALK”), (NASDAQ OMX Copenhagen: ALK B), the world’s leading allergen extract manufacturer, which is located in Hørsholm, Denmark. The transaction was completed on February 11, 2014.

Since 1923, ALK has exemplified scientific leadership in the field of allergy research, and has remained committed to the treatment of allergic disease in humans. Bio-Medical Services introduced in vitro serum IgE allergy testing to the veterinary industry in 1989, and has a proven track record for treating allergic disease for dogs, cats, and horses. With this acquisition, ALK is now positioned to expand its allergy focus to include the very important veterinary allergy market.

“This partnership will allow us to provide complete allergy management resources to veterinary dermatologists and general practitioners alike. By leveraging the expertise of both companies, we will enhance and expand the ACTT® Allergy Management program to provide the most comprehensive resource for allergy testing and treatment in the industry. Dr. Keesee and I are thrilled to become part of the ALK team,” stated Pamela Blaine, Director of Marketing for Bio-Medical Services.

“We are excited about our partnership with Bio-Medical Services and the opportunity to expand our knowledge and resources in the field of veterinary allergy care. We share the commitment to customer service that Bio-Medical Services customers have known, and to provide allergy testing and treatment solutions that will improve the lives of allergic pets,” stated Jose A. Moreno Toscano, President of ALK-Abello, Inc.

The ACTT Allergy Program with ALK will include serum IgE allergy testing, bulk allergen sales for the veterinary dermatologist, and allergen-specific immunotherapy treatment, including the new ACTT Allergy Drops™, sublingual immunotherapy. Together, ALK and Bio-Medical Services will fight the cause of allergic disease for people and their pets.

“I am excited that the company will go forward in the capable hands of ALK and Bio-Medical Services team members. It has been a long and exciting journey from 1985 to 2014, and I am awed to think about all of the animals that have been treated and helped as a result of serum allergy testing,” stated Rosalie Mandy, CEO of Bio-Medical Services.

Statesman Corporate Finance, LLC served as the exclusive financial advisor to Bio-Medical Services, Inc. The Statesman transaction team was led by Managing Director Lawrence (Larry) Schumann. Brad Knippa and David Garcia with Jackson Walker served as legal counsel for Bio-Medical Services. Jerry Keys, with Matheson Keys & Kordzik, led the legal team that advised ALK.

ALK is a research driven, global pharmaceutical company focusing on allergy treatment, prevention and diagnosis. As the world leader in allergy immunotherapy, a treatment given to increase immunity to substances causing allergic symptoms, ALK is devoted to improving the quality of life for people and pets with allergies by creating products that treat the cause of allergies. ALK and the Asthma and Allergy Foundation of America have partnered to create a unique online resource on allergy immunotherapy for patients: www.fightthecauseofallergy.org. ALK is also committed to supporting the business of allergy by providing diagnostic tools, automation software and customized business, technical and clinical consulting services.

Bio‐Medical Services is a veterinary reference laboratory specializing in allergy testing and treatment for dogs, cats and horses. Founded in 1989, Bio‐Medical Services was the first laboratory to develop a commercial application for in vitro allergy diagnostics in the veterinary industry.

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.

Statesman Contact:
Larry Schumann
Managing Director – Austin Office
(512) 372-1000
lschumann@statesmanbiz.com

Air-Nu Baton Rouge, LLC Is Acquired By Louisiana Capital Group, LLC

Baton Rouge, Louisiana (January 2013) – Louisiana Capital Group, LLC has announced its completion of an acquisition, effective January 1, 2014, of Air-Nu Baton Rouge, LLC, and its affiliated entities, Air-Nu Lake Charles & AirNu Houston (collectively “Air-Nu”). Louisiana Capital Group is a family office and private equity investment company based in Cut Off, Louisiana.

Founded in Baton Rouge, Louisiana in 1995, Air-Nu is an industrial and commercial service contractor for the installation, replacement and maintenance of air, gas, and liquid filtration products to a diversified base of customers within the South-Central Gulf Coast region of the United States. Industries served by Air-Nu include petrochemical, pulp and paper, manufacturing, as well as, commercial building owners, hospitals, school districts, and municipalities.

Toby Brady, President of Louisiana Capital Group, stated, “We could not be more pleased to have Air-Nu as a part of the Louisiana Capital Group of Companies. Air-Nu is a leading specialty service contractor that has solidly established relationships with a diversified base of blue chip customers. We are looking forward to working closely with the Company’s experienced management team and staff as we continue Air-Nu’s expansion.”

Gary Young, Founder of Air-Nu commented, “This transaction achieved every one of our objectives. All of our management and personnel will continue on unchanged, and the additional resources and business experiences Louisiana Capital Group brings to the Company will provide tremendous opportunity for both our employees and customers. Statesman’s expertise and professionalism in guiding us through every step of this process was invaluable”.

Statesman Corporate Finance, LLC (“Statesman”) served as the exclusive financial advisor to Air-Nu. The Statesman transaction team was led by Principal Walter Tomlinson and included Managing Director Gary Canon, and Senior Financial Analyst Walker French. Ray Ladouceur, of Ladouceur & Ladouceur, LLC in Abita Springs, Louisiana, served as legal and tax counsel for Air-Nu. B. Troy Villa, Partner, with Breazeale, Sachse & Wilson, LLP in Baton Rouge, led the legal team that advised Louisiana Capital Group.

Statesman Corporate Finance, LLC is a leading middle market investment bank headquartered in Houston, 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.

Statesman Contact:
Walter Tomlinson
Principal
(713) 595-1343
waltert@statesmanbiz.com

C. K. Jeang Joins Statesman Corporate Finance’s M&A Advisory Group

HOUSTON, TEXAS (September, 2013) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the expansion of the firm with the addition of C. K. Jeang as a Managing Director in the Houston office.  Mr. Jeang’s career spans over 30 years of financial and operating experience with several leading global companies based in the U.S., Europe, Asia and the Middle East.  Mr. Jeang has held senior management positions with the Chinese affiliates of ExxonMobil, S. C. Johnson Wax, Kraft Foods, and Yale Locks. Prior to joining Statesman, Mr. Jeang was the COO of Li & Fung, the world’s largest supply chain management firm with major retailers as customers throughout the U.S. and Europe.  Mr. Jeang also served as CFO of the Al-Futtaim Trading and Real Estate groups, a multi-billion dollar conglomerate based in Dubai.  Throughout his career, he has successfully executed a number of M&A transactions, capital formations, and reorganizations, both internationally and domestically.

“C. K.’s broad financial experience, language fluency, cultural competency, and his vast network of Chinese business and government contacts will enhance Statesman’s ability to provide value to our clients seeking to conduct transactional business internationally, especially in Asia. We are delighted to have him as part of our team,” said Will Jaco, Statesman’s President.

Mr. Jeang holds a MBA from the Wharton School, University of Pennsylvania, as well as a Master’s in Systems and Industrial Engineering.  He is a registered investment banking representative, a certified public accountant, a licensed professional engineer and holds a Texas real estate broker’s license.  He is an active member of Tau Beta Pi, the national engineering honorary society, a member of the American Institute for CPA’s (AICPA), the Society for Professional Engineers (SPE) and a member of Hawkamah, Middle East, in Corporate Governance.