M&A Deal Summary

Harren Equity Partners, Prospect Capital Management and Silverhawk Capital Partners Acquire Spartan Energy Services

On December 28, 2012, private equity firm Harren Equity Partners, business development company Prospect Capital Management and private equity firm Silverhawk Capital Partners acquired energy services and equipment company Spartan Energy Services

Acquisition Highlights
  • This is Harren Equity Partners’ 5th, Prospect Capital Management’s 9th and Silverhawk Capital Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Harren Equity Partners’ 22nd, Prospect Capital Management’s 74th and Silverhawk Capital Partners’ 7th transaction in the United States.
  • This is Harren Equity Partners’ 1st, Prospect Capital Management’s 1st and Silverhawk Capital Partners’ 1st transaction in Louisiana.

M&A Deal Summary
Date 2012-12-28
Target Spartan Energy Services
Sector Energy Services and Equipment
Buyer(s) Harren Equity Partners
Prospect Capital Management
Silverhawk Capital Partners
Deal Type Recapitalization

Target

Spartan Energy Services

Lafayette, Louisiana, United States
Spartan Energy Services is a provider of coiled tubing tools and services, fishing services, and flow control services in many of the most active domestic oil and natural gas plays in North America. Spartan Energy Services was founded in 2010 and is based in Lafayette, Louisiana.

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Buyer(S) 3

Buyer

Harren Equity Partners

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harren Equity Partners LLC is an East Coast US-based private equity firm focused on mid-sized acquisitions, recapitalizations and growth capital financings. Harren is a generalist firm and will consider companies in a broad range of industries, including aerospace/defense, automotive, business services, building materials, energy services, furniture, industrial machinery, medical products, natural resources, healthcare services, restaurants, retail, and recycling. Prospective companies typically have sales of $30 to $300 million, EBITDA of $7 to $30 million, and are located in North America. Harren prefers businesses with defensible markets positions, proven management, and strong growth potential. Harren Equity Partners LLC was formed in 2000 and is based in Charlottesville, Virginia.

DEAL STATS #
Overall 23 of 31
Sector (Energy Services and Equipment) 5 of 6
Type (Recapitalization) 12 of 19
State (Louisiana) 1 of 2
Country (United States) 22 of 30
Year (2012) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-27 Drew Foam

Monticello, Arkansas, United States

Drew Foam is a provider of custom-fabricated expanded polystyrene foam ("EPS") products serving the packaging, building products, and consumer end-markets, primarily in the Southeastern United States. Drew Foam was founded in 1965 and is based in Monticello, Arkansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-08 ARKLATEX Energy Services

Shreveport, Louisiana, United States

ARKLATEX Energy Services LLC is an independent provider of cased hole wireline, pressure control, and related completion services in many of the most active oil & natural gas players in North America. ARKLATEX Energy Services was founded in 2005 and is based in Shreveport, Louisiana.

Buy -
Buyer

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.

DEAL STATS #
Overall 76 of 86
Sector (Energy Services and Equipment) 9 of 12
Type (Recapitalization) 8 of 8
State (Louisiana) 1 of 2
Country (United States) 74 of 83
Year (2012) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-21 Safe-Guard

Atlanta, Georgia, United States

Safe-Guard is a provider of branded vehicle protection products in the finance and insurance space to the automotive, RV, marine and motorcycle/Powersports industries. Safe-Guard Products develops, markets and administers programs on behalf of clients, backed by industry-leading sales and marketing, advanced technology solutions, and comprehensive customer service. Safe-Guard is a proud partner to Original Equipment Manufacturers (OEMs), top retailers, and independent agents across the United States and Canada. Safe-Guard was founded in 1992 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-04 Valley Electric

Everett, Washington, United States

Valley Electric is a full-service electrical contractor. The Company offers our clients a wide range of preconstruction services, design/build, design/assist solutions, project management, electrical service and proactive predictive maintenance. Valley also performs low voltage construction including energy management, fire alarm, security system installations and transportation and signal construction. Valley Electric was founded in 1982 and is based in Everett, Washington.

Buy -
Buyer

Silverhawk Capital Partners

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2005
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Silverhawk Capital Partners is a private equity firm that targets recapitalizations of family owned business, acquisitions of divisions of larger corporations, and acquisitions of growth platform businesses. Sectors of interest include manufacturing, industrial products, chemicals, business services, distribution, data management, consumer services, energy, and natural resources. The Firm looks to invest $25 to $175 million of equity capital in companies valued up to $1 billion. Silverhawk Capital Partners was established in 2005 and has offices in Greenwich, Connecticut and Charlotte, North Carolina.

DEAL STATS #
Overall 7 of 12
Sector (Energy Services and Equipment) 1 of 1
Type (Recapitalization) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 7 of 11
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-09 Paloma Resources II

Houston, Texas, United States

Paloma Resources II LLC is an oil and gas company focused on exploration, exploitation, acquisition, and production of oil and gas reserves.

Sell $750M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-23 American In-Home Care

Atlanta, Georgia, United States

American In-Home Care provides referral services to older adults and others needing assistance with the activities of daily living through its registry of licensed, screened, and empathetic caregivers. These independent caregivers provide private duty in-home services, including companionship, grocery shopping, meal preparation and mobility support, to help AIHC’s clients reach their goal of remaining in their homes while allowing them personal control, selection and authority over this decision. American In-Home Care was established in 1992 and is based in Atlanta, Georgia.

Buy -
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