M&A Deal Summary

Cornerstone Holdings Acquires Magna Energy Services

On January 1, 2007, family office Cornerstone Holdings acquired energy services and equipment company Magna Energy Services

Acquisition Highlights
  • This is Cornerstone Holdings’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Cornerstone Holdings’ 7th transaction in the United States.
  • This is Cornerstone Holdings’ 1st transaction in Wyoming.
Investment Fate
  • Magna Energy Services was sold to a strategic buyer in 2016.

M&A Deal Summary

Date 2007-01-01
Target Magna Energy Services
Sector Energy Services and Equipment
Buyer(s) Cornerstone Holdings
Deal Type Buyout (LBO, MBO, MBI)

Target

Magna Energy Services

Gillette, Wyoming, United States
Magna Energy Services is a provider of integrated oil and gas services in the Rocky Mountain region. Magna offers workover, fluids management, equipment rental, plug and abandonment, coal bed methane, and oil field construction services with operations bases in Wyoming, Colorado, North Dakota, and Utah. Magna Energy Services was founded in 2007 and is based in Gillette, Wyoming.

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Buyer(S) 1

Buyer

Cornerstone Holdings

Denver, Colorado, United States

Investor Investor Investor Investor


Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Cornerstone Holdings is a family backed private investment firm focused on direct company investments as well as real estate opportunities. Within its direct investment practice, Cornerstone generally targets growth oriented companies with $2 to $40 million of sales and $1 to $5 million of EBITDA. The Firm's target investment size is $4 to $15 million. Cornerstone prefers prefers majority equity ownership positions or outright control when investing. Prospective transaction situation includes recapitalizations, LBOs, MBOs, and growth capital financings. Cornerstone Holdings is based in Denver, Colorado.


DEAL STATS #
Overall 7 of 7
Sector: Energy Services and Equipment M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 3
State: Wyoming M&A 1 of 1
Country: United States M&A 7 of 7
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-02 Pegasus Tower Development Co.

Tazewell, Virginia, United States

Pegasus Tower Development Co. LLC is a wireless infrastructure management and development services company.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-27 Speakeasy

Seattle, Washington, United States

Speakeasy is a broadband voice (VoIP), data and IT service providers. Speakeasy helps small businesses succeed by offering simplified voice and data solutions that improve the customer experience, increase employee productivity and help cut costs.

Sell $97M