HOUSTON, Sept. 28, 2011 /PRNewswire/ -- Ventech Engineers L.P. today announced that it has completed a significant recapitalization of Ventech in partnership with Cooper Investment Partners L.P., a private investment firm.
Under the terms of the transaction, members of the Stanley family, Ventech's founding shareholders, retain a significant ownership stake in the business as well as their current leadership and Board roles. CIP partners Steve Cooper, Mitchell Taylor and Matt Boyer will join the Ventech board.
"Ventech has been a family-owned company for over 40 years with a reputation for quality and customer service. I am confident that CIP will continue that tradition with us, while helping us develop new growth opportunities," commented Bill Stanley, founder of Ventech and Chairman of the Board of Directors.
In addition, the Stanley family and CIP have formed Ventech Project Investments L.P., with $200 million of committed capital to invest in energy-related infrastructure projects globally.
Kevin Stanley, CEO of Ventech, noted, "We are especially excited about our new joint venture, VPI, where we see numerous opportunities to invest alongside our customers. Ventech's engineering and construction expertise, combined with CIP's investment and structuring skills, provide customers with a complete solution for their projects -- from the engineering design phase through procurement, construction and financing. We think this will be a compelling value proposition for our customers."
"We look forward to working with Bill, Kevin and Kreg Stanley and the dedicated Ventech team to help grow the business and take advantage of the significant opportunities in the sector," said Steve Cooper, Managing Partner of CIP.
Mitchell Taylor, Managing Director at CIP, added, "Ventech's modular construction approach saves significant time to market and allows operators to come on line more quickly than site-built solutions. We also see significant potential for Ventech's modular gas-to-liquids refinery solutions to help realize the value of stranded gas assets in a number of areas throughout the world."
Ventech is the global leader in plant relocation and the design and construction of modular refineries. The company's unique methodology integrates design, fabrication and shipment of its modular refineries enabling operators to dramatically accelerate construction timelines and achieve significant cost savings. Founded in 1967, the company has offices in Texas, Moscow and the Philippines.
About Cooper Investment Partners
Cooper Investment Partners is a private equity fund with $750 million of available capital formed to invest in businesses that can benefit from an operationally-focused financial partner. Founded by turnaround specialist Steve Cooper, CIP brings more than 30 years of leadership in driving performance and reimagining opportunities for companies throughout the world.
Vinson & Elkins served as legal advisor to CIP on the transaction. Gulfstar Group acted as financial advisor and Andrews Kurth acted as legal advisor to Ventech on the transaction.
For Cooper Investment Partners
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SOURCE Ventech Engineers L.P.