M&A Deal Summary

Freestone Partners and ORIX Private Equity Solutions Acquire Cyclone Steel Services

On November 30, 2012, private equity firm Freestone Partners and mezzanine finance firm ORIX Private Equity Solutions acquired metals/mining company Cyclone Steel Services

Acquisition Highlights
  • This is Freestone Partners’ 1st and ORIX Private Equity Solutions’ 1st transaction in the Metals/Mining sector.
  • This is Freestone Partners’ 4th and ORIX Private Equity Solutions’ 2nd transaction in the United States.
  • This is Freestone Partners’ 4th and ORIX Private Equity Solutions’ 1st transaction in Texas.

M&A Deal Summary

Date 2012-11-30
Target Cyclone Steel Services
Sector Metals/Mining
Buyer(s) Freestone Partners
ORIX Private Equity Solutions
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Quarton Partners LLC (Financial)

Target

Cyclone Steel Services

Houston, Texas, United States
Cyclone Steel Services is a provider of steel plate processing services primarily to the petrochemical and oil and gas industries. Cyclone specializes in full-service precision cutting and value-added processing of steel plates for a range of critical applications utilizing oxy-fuel, plasma, and high-definition plasma technologies. Cyclone Steel Services was founded in 1979 and is based in Houston, Texas.

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Buyer(S) 2

Buyer

Freestone Partners

Houston, Texas, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Freestone Partners is a private equity firm that targets growth-oriented companies operating in basic industries. Sectors of interest include manufacturing, distribution, and commercial/industrial services. Freestone prefers platform investments located in the southwestern and southeastern areas of the US. Prospective companies are generally profitable with proven management and generate $10 to $50 million in annual sales. The Firm's target investment size is Freestone $3 to $8 million per transaction. Freestone Partners is based in Houston, Texas.


DEAL STATS #
Overall 4 of 9
Sector: Metals/Mining M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 5
State: Texas M&A 4 of 8
Country: United States M&A 4 of 9
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-03 Sunbelt Steel Texas

Houston, Texas, United States

Sunbelt Steel Texas LLC is a distributor of special alloy steel bar and heavy-wall tubing products to the oil and gas industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-30 BodyBilt

Navasota, Texas, United States

BodyBilt is a manufacturer and marketer of customized ergonomic office chairs. BodyBilt's products are designed to enhance posture, alleviate pain and reduce stress on the musculoskeletal system. BodyBilt is based in Navasota, Texas.

Buy -
DESCRIPTION

ORIX Mezzanine & Private Equity is the direct investment arm of asset manager ORIX. ORIX Mezzanine & Private Equity looks to invest $10 to $20 million to support buyouts, acquisitions, growth capital needs, and sponsored led transactions of profitable (greater than $5 million of EBITDA) companies throughout North America. ORIX will consider a variety of investment structures, including subordinated and convertible debt to common, preferred and convertible preferred equity. ORIX Mezzanine & Private Equity is headquartered in Dallas, Texas.


DEAL STATS #
Overall 2 of 27
Sector: Metals/Mining M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 7
State: Texas M&A 1 of 6
Country: United States M&A 2 of 25
Year: 2012 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-06 Datavail

Broomfield, Colorado, United States

Datavail is a provider of remote database administration (DBA) services in North America. Datavail offers 24/7 managed database services, database design, architecture, and staffing. The company specializes in Oracle, Oracle E-Business Suite, Microsoft SQL Server, MySQL, MongoDB, DB2 and SharePoint, and provides flexible onsite, offsite, and offshore delivery options to meet each customer's unique business needs. Datavail was founded in 2007 and is based in Broomfield, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-05 WhiteHat

San Jose, California, United States

WhiteHat is a provider of on-demand website and web application security software delivered as a service. WhiteHat's cloud website vulnerability management platform and leading security engineers turn verified security intelligence into actionable insights for customers. WhiteHat was founded in 2001 and is based in Santa Clara, California.

Buy -