M&A Deal Summary

Ten Oaks Group Acquires Worthington Industries - Oil & Gas Equipment Business

On February 1, 2021, family office Ten Oaks Group acquired oil/gas exploration company Worthington Industries - Oil & Gas Equipment Business from Worthington Enterprises

Acquisition Highlights
  • This is Ten Oaks Group’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Ten Oaks Group’s 2nd transaction in the United States.
  • This is Ten Oaks Group’s 1st transaction in Ohio.

M&A Deal Summary
Date 2021-02-01
Target Worthington Industries - Oil & Gas Equipment Business
Sector Oil/Gas Exploration
Buyer(s) Ten Oaks Group
Sellers(s) Worthington Enterprises
Deal Type Divestiture

Target

Worthington Industries - Oil & Gas Equipment Business

Bremen, Ohio, United States
Worthington Industries's Oil & Gas Equipment Business is a provider of Oil & Gas Equipment. The divestiture includes the related operating assets located in Bremen, Ohio, and Tulsa, Okla. Worthington.

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Buyer(S) 1

Buyer

Ten Oaks Group

Investor Investor Investor Investor Investor

Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Ten Oaks Group is a two family, family office focused on acquiring corporate divestitures. The Firm is sector agnostic and will consider profitable business units across North America with up to $50 million of EBITDA. Ten Oaks Group is based in Charlotte, North Carolina.

DEAL STATS #
Overall 2 of 4
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 2 of 4
State (Ohio) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-13 Standex International - Refrigerated Solutions Group

New Albany, Mississippi, United States

Standex International's Refrigerated Solutions Group manufactures refrigerated cabinets and walk-ins for customer's foodservice and retail end market. The segment's NorLake and Master-Bilt brands are operated from facilities in New Albany, MS, and Hudson, WI.

Buy $11M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-12 Forward Air - Pool Distribution Business

Greeneville, Tennessee, United States

Forward Air's Pool Distribution Business provides services for retail, healthcare, parts distribution, hospitality, and other specialized industries. Forward Air's Pool Distribution Business is based in Greeneville, Tennessee.

Buy $20M

Seller(S) 1

SELLER

Worthington Enterprises

Columbus, Ohio, United States
Category Company
Founded 1955
Sector Metals/Mining
Employees4,000
Revenue 4.9B USD (2023)
DESCRIPTION
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.

Worthington Enterprises is a diversified metal processing company. Worthington is a value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems, and laser-welded blanks. Worthington Enterprises was founded in 1955 and is based in Columbus, Ohio.

DEAL STATS #
Overall 5 of 6
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 5 of 6
State (Ohio) 2 of 2
Country (United States) 5 of 5
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 General Tools & Instruments

Secaucus, New Jersey, United States

General Tools & Instruments LLC is a designer and developer of precision specialty hand tools and handheld test instruments. The company offers a broad product portfolio of professional and consumer items used across multiple end markets, serving hobbyists and DIY enthusiasts as well as professionals. General Tools & Instruments was founded in 1922 and is based in Secaucus, New Jersey.

Buy $115M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-28 Stako

Slupsk, Poland

Stako is a producer of automotive liquefied propane gas (LPG) tanks. Stako manufactures toroidal and cylindrical LPG tanks for storage of liquid gas propane-butane mixture for engines in passenger cars and commercial and delivery vehicles. Stako was founded in 1967 and is based in Slupsk, Poland.

Sell €5M
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