M&A Deal Summary

Power Line Services Acquires The Snelson Companies

On March 30, 2012, Power Line Services acquired energy services and equipment company The Snelson Companies from GFI Energy Ventures

Acquisition Highlights
  • This is Power Line Services’ 1st transaction in the Energy Services and Equipment sector.
  • This is Power Line Services’ 2nd transaction in the United States.
  • This is Power Line Services’ 1st transaction in Washington.

M&A Deal Summary
Date 2012-03-30
Target The Snelson Companies
Sector Energy Services and Equipment
Buyer(s) Power Line Services
Sellers(s) GFI Energy Ventures
Deal Type Add-on Acquisition

Target

The Snelson Companies

Sedro Woolley, Washington, United States
Snelson constructs and maintains pipelines and associated compressor and metering stations to transport natural gas, petroleum products, water, and other liquids. Headquartered near Seattle, Washington and active primarily in the Pacific Northwest and Rocky Mountain regions, Snelson is well positioned to address the growing need for new and expanded pipelines to move gas from gathering fields in the West to markets nationwide.

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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 2 of 4
Sector (Energy Services and Equipment) 1 of 3
Type (Add-on Acquisition) 2 of 4
State (Washington) 1 of 1
Country (United States) 2 of 4
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-20 Integrated Pipeline Services

Houston, Texas, United States

Integrated Pipeline Services, Inc. is a provider of engineering and construction services of cross-country pipelines, gathering and midstream pipelines, gas distribution systems, compressor, pump, and meter stations, storage facilities, and pipeline integrity and maintenance.

Buy -
FOLLOWING 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) 1

SELLER

GFI Energy Ventures

Los Angeles, California, United States
Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.

DEAL STATS #
Overall 21 of 30
Sector (Energy Services and Equipment) 4 of 5
Type (Add-on Acquisition) 15 of 18
State (Washington) 2 of 2
Country (United States) 19 of 28
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-20 Integrated Pipeline Services

Houston, Texas, United States

Integrated Pipeline Services, Inc. is a provider of engineering and construction services of cross-country pipelines, gathering and midstream pipelines, gas distribution systems, compressor, pump, and meter stations, storage facilities, and pipeline integrity and maintenance.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-20 RECON

Houston, Texas, United States

RECON is a private sector environmental remediation and geotechnical construction services company. RECON’s environmental remediation service offering includes: soil treatment, groundwater services, sludge solidification, cap and cell construction and hazardous demolition. The company also performs geotechnical construction services (modifying soil and controlling groundwater). RECON has performed over 2,000 projects throughout its 21-year history and has long histories with international oil and industrial companies as well as major engineering, procurement and construction companies.

Buy -
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