News

Subsurface Group, Inc. Joins Parsons Brinckerhoff

HOUSTON, TEXAS (January 3rd, 2013) – George J. Pierson, President and CEO of Parsons Brinckerhoff Group Inc., today announced that Subsurface Group, Inc. has joined PB Energy Storage Services in the US Power and Energy Division of Parsons Brinckerhoff, the 14,000-person global professional services firm specializing in infrastructure planning, design, program/construction management and engineer/procure/construction services.

Subsurface Group is a professional consulting and engineering firm providing services in underground injection, underground storage, specialty wells, petroleum and natural resources, and environmental science. Headquartered in Houston, Texas, the group also has offices in Baton Rouge, Louisiana and South Bend, Indiana. In its 2012 fiscal year, the 37-person Subsurface Group had revenues of approximately $50 million.

Said Mr. Pierson, “We are pleased to have the Subsurface Group as part of Parsons Brinckerhoff. The Subsurface Group’s recognized expertise in underground injection and specialty wells complements Parsons Brinckerhoff’s recognized expertise in underground storage for oil & gas, energy, and industrial clients.”

Joseph Sheldon, the President and co-owner of Subsurface Group stated, “As part of our ownership transition plan, we are pleased to know that our employees will be part of an organization which is dedicated to technical excellence and will offer them career opportunities moving forward.”

John Fleniken, Vice President and co-owner of Subsurface Group stated, “The complementary skill sets of both groups will combine to provide a unique and robust full service offering to our clients in the oil & gas, chemical, and industrial markets.”

In a letter to all employees of Parsons Brinckerhoff and Subsurface Group sent today, Mr. Pierson stated, “The addition of Subsurface Group as a new part of our U.S. Power and Energy Division aligns with our strategic goal of expanding the services we can provide to the energy market.”

Parsons Brinckerhoff is a leader in developing and operating infrastructure around the world, with approximately 14,000 employees dedicated to meeting the needs of clients and communities in the Americas, Europe, Africa, the Middle East, Asia, and Australia-Pacific regions. Parsons Brinckerhoff offers skills and resources in strategic consulting, planning, engineering, program/construction management, and operating for all modes of infrastructure, including transportation, power, community development, water, and the environment (www.pbworld.com). Parsons Brinckerhoff is the professional services arm of Balfour Beatty plc, the international infrastructure Group operating in professional services, construction services, support services, and infrastructure investments.

Statesman served as the exclusive financial advisor to Subsurface Group, Inc., and the transaction team included Managing Director Sid Shaver and Associate Walker French.

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, private placements of equity and debt, and general corporate financial advisory services to small and middle-market companies.

Statesman Contact:

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

Statesman Business Advisors, LLC Advises REO Radio Group, LLC in its transaction with Genuine Austin Radio, LP

Statesman Business Advisors, LLC (“Statesman”) is pleased to announce that REO Radio Group, LLC (“REO”) of Austin, Texas has entered into a Local Marketing Agreement (“LMA”) and Purchase Option with Genuine Austin Radio, LP (“GAR”) also of Austin.  Statesman served as the exclusive financial advisor to REO in this transaction.

Long time Austin radio personality Bob Cole has teamed with Austin attorney Jason Nassour and former KVET morning show producer and afternoon host Eric Raines to acquire the 99.3 FM frequency from Texas Radio Hall of Fame broadcaster Dick Oppenheimer.  The 99.3 frequency has been rebranded with the iconic KOKE-FM call letters and will be simulcast on 98.5 FM.  The 99.3 frequency was previously a Christian talk format, and that format will move to 1490 AM.

“You go back to the 70’s, KOKE FM is the center, the catalyst of what made that outlaw Texas movement of Willie Nelson and Waylon Jennings, David Allen Coe, Wilie Hubbard, and Jerry Jeff Walker,” Bob Cole, KOKE-FM co-founder, said.  “All of those folks became known because of the hipness, if you will, that KOKE-FM had and shared with those musicians.”  “I knew about KOKE-FM long before I came to Austin,” Cole said. “It’s legendary. That’s what we’re out to re-create.”  “Everybody has that perfect radio station in their head,” Raines said. “We’re going to be putting our arms around the local and Texas music scenes.  It’s going to be a mix of everything we consider cool.”  Some of the artists who will probably be featured on the playlist, according to Raines, include Asleep at the Wheel, Bob Schneider, Hank Williams, the Josh Abbott Band, and the Randy Rogers Band.

A handful of “strategically picked” Central Texans have contributed funds to help with the purchase of 99.3 FM, Nassour said.  “I’ve represented clients for 15 years, helping them get deals done, but it’s not often I get involved in one. This was just a heck of an opportunity. I want what everyone else in Austin wants, and I wanted to make sure we got it.”

Although Austin has a handful of locally owned noncommercial radio stations on the FM dial, Cole said KOKE-FM will be the city’s only locally owned commercial – or advertiser-supported – station.

Statesman Business Advisors, LLC (Houston, Texas) provides Investment Banking, Merger & Acquisition, Capital Sourcing, and Business Valuation services for middle-market companies. Will Jaco, Principal, led this transaction on behalf of REO.

Statesman Contact:

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

 

 

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

Statesman Corporate Finance, LLC Advises Cal-Tex Citrus Juice in Sale to Country Pure Foods

Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Cal-Tex Citrus Juice, LP (“Cal-Tex”) of Houston, TX has been acquired by Country Pure Foods, Inc. (“Country Pure”) of Akron, OH. Statesman served as the exclusive financial advisor to Cal-Tex in this transaction.

Country Pure is one of the nation’s largest independent juice processors, and the acquisition will enhance Country Pure’s manufacturing and distribution capabilities in the Southwest.

“The acquisition of Cal-Tex gives us the opportunity to extend our geographic reach by adding a fourth production facility, allowing us to better serve our national accounts with a combined broad product offering and improved delivery time to market,” said Raymond K. Lee, President and CEO, Country Pure. “We will continue to look at other opportunities to broaden our manufacturing footprint as we complete our coast-to-coast strategy.” “We are very enthusiastic about the strategic benefits of this transaction and look forward to offering our existing customers a wider range of products,” states Gary Van Liew, CEO of Cal-Tex. “We believe the merger of our two companies will create a powerful combination that will benefit all our customers.”

Country Pure will continue to operate the Cal-Tex plant located in Houston, Texas and products will be consolidated under the Ardmore Farms brand. In addition to the newly acquired Houston plant, Country Pure has facilities in Akron, OH, Ellington, CT and Deland, FL. Gary Van Liew will remain with the combined Company and will serve as its Vice Chairman.

Statesman Corporate Finance, LLC (Houston, Texas) provides Investment Banking, Merger & Acquisition, Capital Sourcing, and Business Valuation services for middle-market companies. Sid Shaver, Managing Director, led this transaction and was assisted by Associate Walker French. Robert Beasley of Weycer, Kaplan, Pulaski, & Zuber served as legal counsel for Cal-Tex.

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:

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

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.