M&A Deal Summary

Lone Star Investment Advisors Acquires RWI Construction

On November 27, 2012, private equity firm Lone Star Investment Advisors acquired energy services and equipment company RWI Construction from Sorenson Capital

Acquisition Highlights
  • This is Lone Star Investment Advisors’ 3rd transaction in the Energy Services and Equipment sector.
  • This is Lone Star Investment Advisors’ 10th transaction in the United States.
  • This is Lone Star Investment Advisors’ 10th transaction in Texas.

M&A Deal Summary

Date 2012-11-27
Target RWI Construction
Sector Energy Services and Equipment
Buyer(s) Lone Star Investment Advisors
Sellers(s) Sorenson Capital
Deal Type Secondary Buyout
Advisor(s) GulfStar Group (Financial)

Target

RWI Construction

Midland, Texas, United States
website
RWI is a provider of wellhead production and upstream infrastructure services to blue-chip oil and natural gas producers in the Permian Basin, one of the nation's most established and productive oil sources. The Company provides essential above-ground maintenance services for oil and natural gas well-sites, as well as the associated production gathering facilities and pipeline infrastructure. RWI Construction was formed in 1979 and is based in Midland, Texas.

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Buyer(S) 1

Buyer

Lone Star Investment Advisors

Dallas, Texas, United States

Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lone Star Investment Advisors is a private equity firm that specializes in leveraged acquisitions and recapitalizations of strategically viable, middle-market businesses with strong potential for growth. The Firm invests in a wide variety of industry sectors including manufacturing, industrial, distribution, business services, energy, and utilities. Lord Star Investment Advisors is based in Dallas, Texas.


DEAL STATS #
Overall 10 of 12
Sector (Energy Services and Equipment) 3 of 4
Type (Secondary Buyout) 2 of 2
State (Texas) 10 of 12
Country (United States) 10 of 12
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Frac Tank Rentals

Odessa, Texas, United States

Frac Tank Rentals is an independent frac tank rental company operating in the Permian Basin area of West Texas. Frac tanks are predominantly used to hold fluids in the hydraulic fracturing process for completing newly drilled oil and gas wells and reworking existing wells. FTR handles all of the logistics involving delivery, pick-up, cleaning ,and movement of its tanks between jobs using the Company’s fleet of twenty-seven winch trucks and six locations. Frac Tank Rentals was formed in 1976 and is based in Odessa, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-22 Teton Buildings

Houston, Texas, United States

Teton Buildings is a provider of customized remote workforce and semi-permanent facilities. The Company primarily supplies facilities to the energy exploration and production, energy infrastructure and pipeline, construction, mining, and disaster relief markets. Teton Buildings is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Salt Lake City, Utah.


DEAL STATS #
Overall 9 of 29
Sector (Energy Services and Equipment) 1 of 3
Type (Secondary Buyout) 2 of 6
State (Texas) 1 of 1
Country (United States) 8 of 28
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-30 AtTask

Lehi, Utah, United States

AtTask, Inc. provides software-as-a-service enterprise work management solutions. Its product AtTask is useful for the entire project management process, including request management, work planning, work execution, work communication, performance management, and work intelligence.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-19 Custom Control Concepts

Kent, Washington, United States

Custom Control Concepts, Inc. is a designer and manufacturer of cabin management and in-flight entertainment systems for luxury, corporate, and VVIP aircraft.

Buy -