M&A Deal Summary

Power Line Services Acquires M&M Pipeline Services

On January 3, 2013, Power Line Services acquired energy services and equipment company M&M Pipeline Services from Sorenson Capital and Pelican Energy Partners

Acquisition Highlights
  • This is Power Line Services’ 3rd transaction in the Energy Services and Equipment sector.
  • This is Power Line Services’ 4th transaction in the United States.
  • This is Power Line Services’ 1st transaction in Mississippi.

M&A Deal Summary
Date 2013-01-03
Target M&M Pipeline Services
Sector Energy Services and Equipment
Buyer(s) Power Line Services
Sellers(s) Sorenson Capital
Pelican Energy Partners
Deal Type Add-on Acquisition

Target

M&M Pipeline Services

Eupora, Mississippi, United States
M & M Pipeline Services LLC is a ROW Services company oriented to the specialized requirements of the oil and gas industry, including FERC regulated Projects. M&M Pipeline Services was established in 2001 and is based in Eupora, Mississippi.

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Buyer(S) 1

Buyer

Power Line Services

The Woodlands, Texas, United States
Category Company
Founded 2009
Sector Energy Services and Equipment
DESCRIPTION

Power Line is a group with the expertise, resources and experience to perform construction services nation-wide for major utilities, regional cooperatives, renewable energy developers, municipalities, commercial and industrial customers and several oil and gas companies.

DEAL STATS #
Overall 4 of 4
Sector (Energy Services and Equipment) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (Mississippi) 1 of 1
Country (United States) 4 of 4
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-03 Southeast Directional Drilling

Casa Grande, Arizona, United States

Southeast Directional Drilling LLC provides large bore directional drilling services to the large diameter pipeline construction industry. The Company provides technical directional drilling services for pipeline installation in environmentally and ecologically sensitive areas and under existing man-made infrastructure.

Buy -

Seller(S) 2

SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Salt Lake City, Utah.

DEAL STATS #
Overall 11 of 29
Sector (Energy Services and Equipment) 3 of 3
Type (Add-on Acquisition) 6 of 16
State (Mississippi) 1 of 1
Country (United States) 10 of 28
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-03 Southeast Directional Drilling

Casa Grande, Arizona, United States

Southeast Directional Drilling LLC provides large bore directional drilling services to the large diameter pipeline construction industry. The Company provides technical directional drilling services for pipeline installation in environmentally and ecologically sensitive areas and under existing man-made infrastructure.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-11 TruHearing

Draper, Utah, United States

TruHearing, Inc. is a provider of discounted hearing aids that partners with health plans to provide deep discounts to health plan members. Over 100 million people—nearly one-third of all Americans—have access to affordable hearing aids because their health plan offers them TruHearing. And that number is growing every year. TruHearing was founded in 2003 and is based in Draper, Utah.

Buy -
SELLER

Pelican Energy Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 563M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pelican Energy Partners is a private equity firm focused on making strategic investments in energy services and manufacturing companies. The Firm typically pursues profitable, established companies across North America with EBITDA generally between $1 million and $10 million. Pelican Energy Partners was formed in 2011 and is headquartered in Houston, Texas.

DEAL STATS #
Overall 1 of 6
Sector (Energy Services and Equipment) 1 of 5
Type (Add-on Acquisition) 1 of 6
State (Mississippi) 1 of 1
Country (United States) 1 of 6
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-05 Elite Production Services

San Antonio, Texas, United States

Elite Production Services LLC provides critical pressure testing and nipple-up/nipple-down services on drilling and completion stacks as well as complementary rental iron, stack lifts, gin trucks, expendables, and cranes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-28 Rapid Rod Service

Calgary, Alberta, Canada

Rapid Rod Service Ltd. is a provider of specialty well servicing rigs that perform maintenance and repairs on wells with conventional or continuous sucker rod and other types of artificial lift.

Buy -
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