Generational Equity Announces the Sale of Slaughter & Stanley Construction, Inc. to LineStar Services, Inc., a portfolio company of Blue Point Capital Partners
DALLAS, April 8, 2014 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the sale of its client, Slaughter and Stanley Construction, Inc. (S&S) to Blue Point Capital Partners, in conjunction with its portfolio company, LineStar Services, Inc. The transaction closed on March 31, 2014, and was led by Vice President, Musa Jagne and Managing Director, Michael Goss from the firm's Dallas, Texas headquarters. S&S' legal team included Richard Roth of Jackson Walker L.L.P. out of Houston, Texas. Financial guidance for S&S was provided by Pamela J. Pope, CPA of Big Spring, Texas. Terms of the transaction were not disclosed.
S&S is a full-scale pipeline maintenance and installation services provider for companies in the energy industry. Under the direction of its clients, S&S helps energy companies meet regulatory requirements imposed by the Department of Transportation (DOT). S&S is based in Big Spring, Texas.
The S&S transaction represents the third acquisition for LineStar, a holding company established to pursue investments in the oil and gas pipeline services market. Similar to existing LineStar operations, S&S provides its customers with a one-stop solution for pipeline maintenance and integrity work.
"This transaction puts our Company, our employees, and our legacy in good hands," stated A.J. Stanley, the former president of S&S. "LineStar's culture fits very well with ours and this partnership creates future job opportunities here in Big Spring."
"We ran a very organized and structured process which brought several suitors to the table and helped us identify the right partner for S&S," said Musa Jagne of Generational Equity.
"The S&S acquisition strengthens LineStar's platform in West Texas and diversifies the Company's customer base and service offering," said Sean Ward, a partner with Blue Point. "LineStar has made significant investments to strengthen the business since our initial investment in 2009, and the acquisition of S&S supports our strategy of building a growth-oriented platform within the energy services industry."
Paul Neundorfer, president and chief executive officer of LineStar said, "S&S is an excellent fit within the LineStar platform from an operational standpoint. As important, our views of the market and company cultures are well aligned, which we expect will foster integration and growth going forward."
About LineStar Services
LineStar (www.linestar.com) focuses on providing premier service to owners and operators of oil and gas infrastructure. Headquartered in Houston, TX, LineStar provides a full suite of high-quality integrity, maintenance and construction services through its operating subsidiaries Tucker Construction and Tucker Midstream. The Company operates out of four locations in Oklahoma and two in Texas, providing coverage throughout the Southwest U.S.
About Blue Point Capital Partners
Blue Point Capital Partners (www.bluepointcapital.com) is an established private equity firm managing over $800 million in committed capital. Leveraging fully staffed offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point's entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. Blue Point has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point's network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm's experience with cross-border management and value drivers has provided a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.
About Generational Equity
Generational Equity provides mergers, acquisitions, strategic growth advisory services, and information for privately held and family-owned businesses to exit their companies successfully. Generational Equity uses a four-phase approach that includes education, financial analysis and reporting, sales documentation and deal-making ability to offer business owners an unparalleled level of commitment and experience, all focused on helping to release the generational equity and wealth in every business. Generational Equity is headquartered in Dallas, TX, has more than 200 professionals in North America, and was recently recognized by the M&A Advisor as the M&A Consulting Firm of the Year. For more information visit the following websites at www.genequityco.com, www.gecpress.com or http://blog.genequityco.com/.
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SOURCE Generational Equity