News

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.

Statesman Corporate Finance Expands Opening New Central Texas Office

HOUSTON & AUSTIN, TEXAS (June, 2013) – Statesman Corporate Finance (“Statesman”) is pleased to announce the expansion of the firm with the addition of a branch office located in Austin, Texas. With this new office, Statesman welcomes Managing Directors Lawrence (Larry) Schumann and Phillip Wilhite to the firm. “We felt the timing was right to expand into the Central Texas region and Larry and Phil are tremendously experienced intermediaries. We are excited about their decision to join Statesman and the greater coverage Statesman will have in the rapidly growing Central Texas markets.” said Will Jaco, Statesman’s President.

Larry Schumann has over 11 years of experience in advising and representing clients in business sales and acquisitions. He has completed numerous successful engagements in a broad cross section of industries including niche manufacturing, insurance services, automotive services, industrial and commercial services, oilfield services, consumer services, professional services, retail, adventure tourism, and specialty construction. Larry’s business experience includes 20 years at TCC Industries, Inc. (formerly TeleCom Corporation), a NYSE listed conglomerate involved in trucking, manufacturing, wholesale distribution, venture capital, insurance and real estate. While at TCC Industries, he served in a number of positions, including CEO for 5 years; and was involved in 19 merger and acquisitions transactions, as well as numerous capital financings in a variety of industries. Larry also has 3 years of experience as COO/CFO of SciComp Inc., a software development company, and 3 years on the audit staff of PricewaterhouseCoopers, the successor firm to Coopers & Lybrand.

Larry earned a Bachelor of Business Administration degree magna cum laude from Texas A&M University. He holds the FINRA Series 7, 66, and 79 securities licenses and is a Merger & Acquisition Master Intermediary (M&AMI) and Certified Business Intermediary (CBI). He is also a Certified Public Accountant (CPA) and holds a Texas real estate broker’s license. Larry is a member of the M&A Source, the Association for Corporate Growth (ACG), the International Business Brokers Association (IBBA), the Texas Association of Business Brokers (TABB), the American Institute of Certified Public Accountants (AICPA), and the Texas Society of Certified Public Accountants (TSCPA).

Phillip Wilhite uses his experience as a former business owner and 11 years of M&A transaction work to help his clients achieve their long-term strategic plans. After a stint as CFO of a regional construction firm, he acquired a small wholesale operation and built it into the fifth largest distributor in its industry, serving the grocery market across 16 states. He brings an owner’s perspective to the fields of M&A and corporate finance. Phillip has accumulated deal making experience in manufacturing, distribution, healthcare, professional services, and real estate hospitality, with transactions up to $50,000,000 in value.

Phillip earned a BBA in Accounting from The University of Texas at Austin, is a Certified Public Accountant, and worked on the audit staff of PricewaterhouseCoopers, the successor firm to Coopers & Lybrand for 4 years. He holds the Merger & Acquisition Master Intermediary (M&AMI) and Certified Business Intermediary (CBI) designations from the International Business Brokers Association, as well as a Texas real estate license. Additionally, Phillip is registered with FINRA holding the Series 7, 66, and 79 securities licenses. He is an active member of the International Business Brokers Association and M&A Source, currently serving as chairman of the M&A Expo committee of M&A Source, working with Private Equity Groups. Phillip is married with two grown children, coached youth baseball for fourteen years, and is active in charities including The First Tee of Greater Austin.

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

 

Maurice Pincoffs Canada, Inc. Is Acquired By Dyaco International Inc.

HOUSTON, TEXAS (July 1, 2013) – Dyaco International Inc. (“Dyaco”), the parent company of Spirit Fitness, Spirit Medical, Spirit Direct and Xterra Fitness, has completed its acquisition of Maurice Pincoffs Canada, Inc. (“Maurice Pincoffs Canada”), based in Niagara Falls, Canada. Dyaco is one of the largest fitness equipment manufacturers in the world with global headquarters in Taipei, Taiwan, and factories in Taiwan and China.

Maurice Pincoffs Canada is one of the largest fitness equipment distributors in Canada, supplying exercise equipment and trampolines to Sears, Walmart, Costco, Canadian Tire and other specialty fitness retailers across Canada.

Michael Lin, CEO of Dyaco International stated, “Maurice Pincoffs Canada has been Dyaco’s exclusive distributor in Canada for the past ten years and we are very excited to have the Company join the Dyaco International family.“ Chris Cox, President, Dyaco North America, added, “The experienced management team and staff in place at Pincoffs Canada will be a great asset for Dyaco’s continued expansion in North America.”

Maurice Pincoffs Canada was a wholly owned subsidiary of Maurice Pincoffs Company, Inc. (“Maurice Pincoffs and/or the Company”). With a history dating back over 125 years in international trade, Maurice Pincoffs specializes in international distribution and offshore manufacturing and sourcing across many industries. The Company is headquartered in Houston, Texas and has offices in China and Taiwan. John Griffin, CEO of Maurice Pincoffs commented, “The additional resources gained by Maurice Pincoffs Canada now being directly related to a leading manufacturer like Dyaco will only strengthen its product portfolio and help fuel its continued growth.”

Statesman Corporate Finance, LLC served as the exclusive financial advisor to Maurice Pincoffs in this divesture of its Canadian subsidiary. The Statesman transaction team included Principal Walter Tomlinson, Managing Director Gary Canon, and Associate Walker French.

Larry Stevens, Partner, and Reuben Rosof at Gardere Wynne Sewell LLP served as legal advisors to Maurice Pincoffs, and Frank Simonton, Managing Partner at Simonton & Kutac, LLP, served as the Company’s accounting and tax advisor.

Statesman Corporate Finance 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

Allied Concrete Is Acquired By Alleyton Resource Corporation

HOUSTON, TEXAS (March 6, 2013) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Allied Concrete, a division of Leaman Building Materials, Inc. (“Allied”) of Richmond, TX has been acquired by Alleyton Resource Corporation (“Alleyton”) of Columbus, TX. The transaction closed on December 21, 2012.

Allied, a family-owned business since 1954, produces concrete for a wide range of projects utilizing one of the newest mixer fleets among the Houston area’s ready mix providers. Allied’s fleet of over 100 trucks delivers concrete to such diverse construction projects as residential house slabs and flatwork, large commercial developments, street and highway paving, schools, and office buildings. Additionally, Allied provides concrete pumping services through a subsidiary company, Allied Concrete Pumping, LLC. Allied spreads its unique brand of personalized service throughout a wide geography that includes Houston and West Harris, Fort Bend, Brazoria and Waller counties in southeast Texas.

Alleyton, a private company established in 2003, is a wholesale provider of sand and gravel. The Company currently operates three sand and gravel plants in the vicinity of Columbus, Eagle Lake, and Altair, TX.

Statesman served as the exclusive financial advisor to Allied Concrete. The Statesman transaction team included Principal Will Jaco and Associate Karla Bayer.

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

Statesman Contact:

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