News

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.

King Southwest and Consulting, Inc. Acquires Hercon Instruments, Inc.

King Southwest, established in 2002, provides engineering, manufacturing, and downhole tool design services for some of the largest and most well-respected companies throughout the oil and gas industry.

Hercon, located in Houston, Texas, has been providing medical companies, electronics manufacturers, and the oil and gas industry with precision machined components for nearly 30 years. Hercon operates with seven CNC Machining Centers, four CNC Turning Centers, four Bridgeport Mills, and two engine lathes. Hercon can also provide Wire and Sinker EDM services.

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.”

Statesman Adds Equipment and Inventory Appraisal Services

Scott´s extensive background includes appraisals in the following tangible business asset categories: plant machinery, lab equipment, food processing machinery, oilfield equipment, inventory, high-tech gear, medical equipment, rolling stock, and office, furniture and equipment. He is licensed, certified, bonded, and insured. Scott´s valuations conform to Uniform Standards of Professional Appraisal Practices (USPAP). They are admissible to regulatory authorities, local taxing agencies, the IRS, banks, examiners, insurance companies, and a court of law.

Prior to joining Statesman, Scott owned, operated, and capitalized several companies in industries ranging from finance, valuation services, auctioneering, and software development. Since 2003, he has been dedicated to the valuation and sale of tangible business assets. Most recently, he was President and CEO of CIS Asset Solutions, Inc., a company specializing in the appraisal of tangible business assets. Scott is a graduate of The University of Texas at Austin.

Founded in 1995, Statesman Business Advisors has grown to become one of Houston´s premier financial advisory firms serving mid-market business owners. In addition to our lender due diligence services, Statesman specializes in selling businesses, buy-side acquisition representation, management buyout/recapitalizations, business financing and capital sourcing, and accredited business valuations and appraisals.