News

Service Refrigeration Company Recapitalized by Freestone Partners, LLC

Service Refrigeration Company provides consulting, equipment sales, installation, and service to commercial refrigeration, HVAC, and plumbing systems for grocery stores, food processing and distribution companies, and other industrial companies.

Founded in 1986 and privately owned, Service Refrigeration has over 150 full-time employees throughout Texas.

EnterSys Group acquired by Axon Americas

Texas-based EnterSys Group delivers complex SAP solutions for clients across the oil & gas value chain.

“I am excited about the significant opportunities enabled by the addition of strategic acquisition to our existing global Oil & Gas practice. An immediate priority will be to enhance customer value creation by integrating Axon´s market leading Enterprise Asset Management (EAM) capabilities with EnterSys Group´s Oil Field Services tools and solutions as well as giving EnterSys Group clients access to Axon´s world-class off shore development center. I am delighted to welcome the partners and employees of EnterSys Group to Axon Americas.”
Kevin Graybill, Partner of EnterSys Group

Statesman initiated this transaction and served as the exclusive provider of M&A advisory service to EnterSys Group.

Stock Building Supply Acquires ProSource

ProSource Building Supply is a construction services business supplying commercial doors, trim, hardwood, related specialty products and installation services.

In the year ended Dec. 31, 2006, ProSource had revenue of approximately $17 million. The acquisition is in line with Stock´s goal of expanding in the commercial and industrial markets.

Stock Building Supply is a company of Wolseley plc (NYSE: WOS), a global distributor of plumbing and heating products as well as building materials.

Statesman Business Advisors Expands Field Examiner Staff

With the addition of Karla and Mike, Statesman´s due diligence staff has increased to six full-time and three part time persons. Over the past ten years, Statesman´s professional due diligence team has completed over 2,000 separate assignments throughout Texas and in fifteen other states.

Both Karla and Mike have extensive financial services backgrounds and will make an immediate contribution to the growth of Statesman´s due diligence capabilities. Karla´s background includes seven years of commercial banking with Post Oak Bank, Compass Bank, and Frost Bank where she was a VP of Commercial Lending. For the past nine years, Karla has served as CFO of a privately held company. Her bank and lending background, combined with actual operating company experience, provides a solid basis for understanding the complexities of the field review process. Karla is a Cum Laude graduate of the University of Houston with a BBA in Finance.

Mike has an extensive financial background working for both bank and non-bank lenders alike in a variety of capacities including commercial lending, credit approval, and portfolio management. Most recently, Mike was an AVP with JP Morgan Chase Bank with underwriting and due diligence responsibilities. Mikes understanding of the credit approval process and practical experience in monitoring operating credits will allow him to quickly gain an understanding of Statesman´s proprietary due diligence process. Mike earned a BBA degree from the University of Texas at Austin. We are very excited about the addition of both Mike and Karla to our team.

SGS Acquires FTS, Inc.

FTS provides Asset Integrity Management (AIM) including world-class web-based Mechanical Integrity Management systems and services to the oil, gas, and chemical industries in the US and internationally. FTS is recognized as a leader in providing innovative data gathering systems and developing customized software solutions for labor-intensive data management processes and corrosion monitoring programs.

Founded in 1992 and privately owned, FTS has 350 employees in Bartlesville OK, Ponca City OK and Houston TX. This year revenues will exceed US $30 million.

SCP Acquires DeBusk Industrial Group

Located outside Houston, TX, DISC provides a variety of industrial cleaning services for critical equipment within the petrochemical industry. Services provided include hydro-blasting, vacuuming, hydro-cutting, chemical cleaning, and roll-off truck services. DISC presently serves customers in parts of the southwestern and southeastern United States through its nine existing branches located in Texas, Louisiana, and Tennessee.

Jim Wigginton and Mark McCammon will continue to represent Strength Capital on the board of Inland. Strength Capital is excited to be expanding its industrial service group by diversifying into the petrochemical industry. This deal represents the eighth investment for SCP Fund II, and the second add-on acquisition to the Inland platform. Strength Capital Partners is a private equity firm based in Birmingham, MI.