M&A Deal Summary

Glencoe Capital Acquires Fortis Energy Services

On January 10, 2013, private equity firm Glencoe Capital acquired energy services and equipment company Fortis Energy Services

Acquisition Highlights
  • This is Glencoe Capital’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Glencoe Capital’s 22nd transaction in the United States.
  • This is Glencoe Capital’s 9th transaction in Michigan.

M&A Deal Summary
Date 2013-01-10
Target Fortis Energy Services
Sector Energy Services and Equipment
Buyer(s) Glencoe Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Fortis Energy Services

Troy, Michigan, United States
Fortis Energy Services is a provider of oil and natural gas well intervention and maintenance services. The company primarily serves customers operating in the Antrim, Marcellus, Bakken, and Utica shale formations in Michigan, North Dakota, Pennsylvania, West Virginia, New York, and Ohio. Fortis Energy Services was founded in 2004 and is based in Troy, Michigan.

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Buyer(S) 1

Buyer

Glencoe Capital

Manchester, New Hampshire, United States

Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Glencoe Capital is a private equity firm that invests in leveraged buyouts and recapitalizations of middle-market companies. Glencoe consists of Glencoe Capital Partners Funds which seeks North American businesses valued between $25 million and $125 million, and the Michigan Opportunities Fund which looks to invest in recapitalizations, buyouts, and growth equity transactions in Michigan. Sectors of interest include business and media services, financial services, food and consumer products, and industrials. Glencoe prefers platform companies to have at least $30 million of sales and EBITDA of at least $3 million. Glencoe Capital was formed in 1994 and is a unit of Leoville Holdings, an alternative investment manager. Glencoe Capital is based in Chicago with an additional office in Birmingham, Michigan.

DEAL STATS #
Overall 25 of 28
Sector (Energy Services and Equipment) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 13 of 14
State (Michigan) 9 of 9
Country (United States) 22 of 25
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-31 Budco Holdings

Highland Park, Michigan, United States

Budco Holdings, Inc. is a business process outsourcing company that offers a diverse range of services including electronic and physical transaction processing and fulfillment; e-store design, creation, and hosting; digital and physical marketing communication services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-22 Encore Rehabilitation

Farmington Hills, Michigan, United States

Encore Rehabilitation is a provider of rehabilitative therapy services to skilled nursing and assisted living facilities. Encore Rehabilitation was founded in 2007 and is based in Farmington Hills, Michigan.

Sell -
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