M&A Deal Summary

Inspection Oilfield Services Acquires Castronics

On January 30, 2012, Inspection Oilfield Services acquired energy services and equipment company Castronics from Ninth Street Capital Partners and Deerpath Capital Management

Acquisition Highlights
  • This is Inspection Oilfield Services’ 1st transaction in the Energy Services and Equipment sector.
  • This is Inspection Oilfield Services’ 1st transaction in the United States.
  • This is Inspection Oilfield Services’ 1st transaction in Nebraska.

M&A Deal Summary
Date 2012-01-30
Target Castronics
Sector Energy Services and Equipment
Buyer(s) Inspection Oilfield Services
Sellers(s) Ninth Street Capital Partners
Deerpath Capital Management
Deal Type Add-on Acquisition

Target

Castronics

Kimball, Nebraska, United States
Castronics, Inc. provides pipe threading, perforating, storage, and refurbishment services for steel mills, distributors, and oil and gas drilling companies throughout the United States and Canada.

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Buyer(S) 1

Buyer

Inspection Oilfield Services

Morgantown, West Virginia, United States
Category Company
Founded 2001
Sector Oil/Gas Exploration
DESCRIPTION

Inspection Oilfield Services is a provider of tubular management services with operations in every significant oil and gas producing region in the continental United States.

DEAL STATS #
Overall 1 of 3
Sector (Energy Services and Equipment) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (Nebraska) 1 of 1
Country (United States) 1 of 3
Year (2012) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-16 Xxtreme Pipe Services

Houston, Texas, United States

Xxtreme Pipe Services LLC is a provider of independent OCTG inspection, API threading, repair and storage services based in Houston, Texas.

Buy -

Seller(S) 2

SELLER

Ninth Street Capital Partners

Investor Investor

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Ninth Street Capital Partners is a private investment firm focused on acquiring established, profitable lower middle-market companies with $5 to $50 million in revenue. Ninth Street is a generalist investor and seeks companies operating in fragmented sectors, with low cyclicality and external risk factors. Target investment situations include owners looking to retire or in need of liquidity, or owners in need of additional management and expertise and looking for a partner to pursue growth opportunities. Ninth Street Capital Partners is based in Orange Village, Ohio.

DEAL STATS #
Overall 1 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Nebraska) 1 of 1
Country (United States) 1 of 3
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-04 Castronics

Kimball, Nebraska, United States

Castronics, Inc. provides pipe threading, perforating, storage, and refurbishment services for steel mills, distributors, and oil and gas drilling companies throughout the United States and Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-01 Premium Inspection & Testing

Baton Rouge, Louisiana, United States

Premium Inspection & Testing is a premier provider of non-destructive testing and inspection services to midstream oil and gas companies as well as customers in the nuclear, civil infrastructure, and defense industries. Premium Inspection & Testing is based in Baton Rouge, Louisiana.

Buy -
SELLER

Deerpath Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 2007
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Deerpath Capital Management, LP makes privately negotiated investments in the debt and equity of lower middle market companies. Deerpath prefers to invest in senior secured loans, but will consider other forms of investment on an opportunistic basis. Prospective companies typically have revenues of $10 to $200 million and EBITDA of $3 to $15 million. The Firm looks to commit $15 to $50 million per transaction. Target sectors include communications, energy/natural resources, healthcare, services, and manufacturing. Deerpath was established in 2007 and is based in New York City and office in Fort Lauderdale, Florida and Houston, Texas.

DEAL STATS #
Overall 1 of 8
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 6
State (Nebraska) 1 of 1
Country (United States) 1 of 8
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-04 Castronics

Kimball, Nebraska, United States

Castronics, Inc. provides pipe threading, perforating, storage, and refurbishment services for steel mills, distributors, and oil and gas drilling companies throughout the United States and Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-20 AWP Windows & Doors

Medley, Florida, United States

AWP Windows & Doors is a manufacturer of aluminum and vinyl windows and doors for the residential and light commercial market. The company offers both impact and non-impact products and sells its products through a professional network of dealers and distributors. AWP Windows & Doors is based in Medley, Florida.

Buy -
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