News

Magnum Hunter Resources Corporation Completes Divestiture of Appalachian Commercial Water Disposal Facilities

Magnum Hunter Resources Corporation (NYSE: MHR) completed the sale of its Hunter Disposal, LLC subsidiary to GreenHunter Energy, Inc. (NYSE Amex: GRH), a diversified renewable energy company predominately focused on water resource management in the unconventional oil and gas shale resource plays.  Statesman Corporate Finance, LLC served as the exclusive financial advisor to MHR in this transaction.

The acquisition consisted of the purchase of 100% of the ownership interest of three fully operational commercial salt water disposal (SWD) wells and associated facilities located in Washington County, Ohio and Lee County, Kentucky.  The assets acquired also included a fleet of nine (9) water hauling vacuum trucks, and 37 frac tanks (500 barrel capacity each).  Total current salt water disposal capacity is 9,000 barrels per day (BBL/D), of which 6,000 BBL/D is from two wells located in Ohio and approximately 3,000 BBL/D is from one well located in Kentucky.  In addition to the current employees, GreenHunter anticipates the creation of up to 40 new service industry jobs created through a growth plan which includes the expansion of its existing truck fleet and Total Water Management Solutions™ services.

The Statesman transaction team included Principal Will Jaco and Associate Walker French.

About Statesman:

Statesman Corporate Finance is a leading middle market investment bank headquartered in Houston, Texas serving Texas, Louisiana, and Oklahoma.  Statesman provides merger and acquisition sell-side and buy-side advisory services, private placements of equity and debt, and general corporate financial advisory services to small and middle-market companies.

Statesman Contact:

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

Nationwide Recovery Systems, Ltd. is Acquired by Eli Global, LLC

Nationwide Recovery Systems, Ltd. (“NRS”), headquartered in Carrollton, Texas, has been acquired by a newly formed acquisition subsidiary of Eli Global, LLC (“Eli Global”) of Durham, North Carolina. Statesman Business Advisors, LLC (“Statesman”) initiated the transaction and served as the exclusive financial advisor to NRS.

NRS is one of the larger collection agencies in the Southwest providing commercial, consumer, and healthcare debt recovery services. Additionally, NRS helps companies lower their DSO through flexible accounts receivable co-sourcing agreements, infield collections, pre-litigation intervention, international collections, and asset and liability searches. Founded over 30 years ago, NRS has collected well over $1 billion of delinquent accounts for its clients.

Eli Global is an international information and service management company that acquires, invests in, and operates a growing portfolio of healthcare, media, market intelligence, certification, and associated service businesses. The Company has more than 700 employees that work from over a dozen locations on three continents. NRS represents Eli Global’s third collections industry acquisition. Eli Global’s other collections industry holdings are Credit Management Company of Pittsburgh, PA and Harvard Collection Services, Inc. of Chicago, IL.

The Statesman transaction team was led by Principal Will Jaco. Tom Manford and Eric McCord of Bracewell & Giuliani, LLP provided legal representation to NRS on this transaction.

Diamond Gear Company, Ltd. Acquired by ERIKS nv

Diamond Gear, established in 1997, is a manufacturer of Industrial Worm Gears, Bevel Gears, and Declutchable Worm Gears, and the exclusive North American representative and master distributor for a high-technology line of pneumatic, rack and pinion actuators, used for valve automation. Diamond Gear maintains substantial inventories of the full range of its product offerings and provides value added services through its in-house machine shop to modify the gears and fabricate mounting hardware to fit just about any valve configuration. Diamond Gear supplies its products and services primarily to valve manufacturers, valve distributors, and valve repair and modification shops throughout the Gulf Coast region.

ERIKS, based in the Netherlands, together with its subsidiaries, procures, stores, processes, sells, and distributes a range of mechanical engineering components in Europe, the United States, and southeast Asia.

R•O•M Corporation has acquired Bustin Industrial Products

HOUSTON, TEXAS (September 20, 2011) -Statesman Corporate Finance, LLC is pleased to announce that R•O•M Corporation has acquired Bustin Industrial Products from MW Supply, Inc. of Glen Rose, TX. Statesman acted as a financial advisor to Bustin in this transaction.

Bustin, based in East Stroudsburg, PA, manufactures truck and trailer access products such as walkramps, steps and ladders, and platforms as well as industrial safety access solutions that include crossovers, servicing platforms, ladders, handrails and work stands. MW Supply will return to its roots as a manufacturer of cargo control solutions and will continue to distribute safety access solutions as a value added re-seller for R•O•M and Bustin products.

Bustin Industrial Products, founded in 1928, has pioneered innovative safe access equipment for a variety of industries and applications. The company’s truck and trailer safety access and storage solutions include walkramps, pull-out platforms, slide-out platforms, ladders and steps. Bustin’s Industrial access solutions include crossovers, ladders, handrails, work stands, servicing platforms, grating products and customizable engineered-to-order solutions. The company is headquartered in East Stroudsburg, PA. For more information on Bustin please visit the company’s website at www.bustin-usa.com.

MW Supply is a manufacturer and distributor of cargo control and material handling solutions celebrating twenty years of business in 2012. Dealing directly with private fleets to provide customized solutions, the company focuses on service and a passion for understanding their clients’ business in order to better serve them. The company website is www.mwsupply.com.

R•O•M Corporation, founded in 1947, is headquartered in a 65,000 sq. ft. facility in suburban Kansas City, MO. The company’s food distribution product line includes insulated bulkheads, safety walkramps, trailer platforms, trailer ladders, LED lighting and self-closing strip doors. The company also manufactures products for the fire service industry, service and utility fleets, and building security markets. ISO 9001-certified and owner of 10 U.S. and Canadian patents, R•O•M serves its national and international customer base with a field staff of territory managers and an inside customer development team. For more information on R•O•M please visit the company’s website at www.romcorp.com.

Statesman Corporate Finance, LLC (Houston, Texas) provides Investment Banking, Merger & Acquisition, Capital Sourcing, and Business Valuation services for middle-market companies. Drew Sudduth, Managing Director, led this transaction. Please contact Statesman to learn more about our services and expertise in representing family and entrepreneur-owned companies.

Statesman Business Advisors, LLC Expands Corporate Finance and M&A Advisory Group

Prior to joining Statesman, Sid was a Shareholder in Weinstein Spira and Co, CPA’s and the Managing Director/Securities Principal of the Hunter Wise Investment Banking affiliate in Houston. Sid began his accounting career upon his graduation from the University of Houston and worked for several public accounting firms before forming S.M. Shaver & Co. CPA’s and Stratos M&A Group in 1982. These practices were merged into Weinstein Spira in 2000 where Sid continued providing transaction support consulting services and established the Hunter Wise Investment Banking affiliate under which he advised on M&A and other security related transactions.

Sid has participated in a substantial number of M&A transactions in which he has served as the lead investment banker, advisor to the board of directors, consultant to private equity firms, and also due diligence and tax advisor. Sid’s professional designations include Certified Public Accountant, Series 7, 66, 79 and 24 Securities licenses, Certified Merger and Acquisition Advisor, Certified Financial Planner, and Personal Financial Specialist. Sid is also a voting member of the College Football Hall of Fame.


Will Jaco Earns Certified Merger & Acquisition Advisor Designation

The Alliance of Merger & Acquisition Advisors® initiated the CM&AA program to develop an essential standard of excellence for middle market corporate financial advisory. “To achieve our goals,” noted Michael Nall, Executive Director of AM&AA, “we’ve created a practical, relevant, and comprehensive professional development program that builds on the previously existing skills. This advanced credential provides an important ‘gold standard’ to assist the client in selecting the best advisor. Moreover, we’ve established extremely high professional and ethical requirements to insure the integrity of the CM&AA designation. For the 1st time ever, owners of privately held companies now have a key benchmark of competency for help with critical ‘once in a lifetime’ kinds of decisions.”