M&A Deal Summary

Williams Acquires Hetsco

On April 30, 2013, Williams acquired energy services and equipment company Hetsco from Platte River Equity for 33M USD

Acquisition Highlights
  • This is Williams’ 1st transaction in the Energy Services and Equipment sector.
  • This is Williams’ largest (disclosed) transaction.
  • This is Williams’ 3rd transaction in the United States.
  • This is Williams’ 2nd transaction in Indiana.
Investment Fate
  • Hetsco was divested to a consortium of strategic buyers in 2017 for 22M USD.

M&A Deal Summary

Date 2013-04-30
Target Hetsco
Sector Energy Services and Equipment
Buyer(s) Williams
Sellers(s) Platte River Equity
Deal Type Add-on Acquisition
Deal Value 33M USD

Target

Hetsco

Greenwood, Indiana, United States
Hetsco, Inc. is a provider of mission critical brazed aluminum heat exchanger ("BAHX") repair, maintenance and safety services to the industrial gas, liquefied natural gas ("LNG") and petrochemical industries.

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Buyer(S) 1

Buyer

Williams

Atlanta, Georgia, United States

Category Company
Founded 1998
Sector Energy Services and Equipment
Employees1,264
Revenue 269M USD (2020)
DESCRIPTION

Williams is a designer, engineer and manufacturer of auxiliary equipment for gas turbines used in power plants and a variety of industrial applications. Williams was founded in 1998 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Indiana) 2 of 2
Country (United States) 3 of 3
Year (2013) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-05 TOG Manufacturing Company

North Adams, Massachusetts, United States

TOG is a contract manufacturer of high precision metal and alloy parts for the power generation market and the nuclear submarine market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-01 Koontz-Wagner

South Bend, Indiana, United States

Koontz-Wagner offers repair and testing services for electric motors and other mechanical and electrical equipment, as well as electrical contracting services for commercial and industrial projects. Its maintenance services division repairs motors, generators, switchgear, transformers, electronics, and other electrical and mechanical equipment. Koontz-Wagner was founded in 1921 and is based in South Bend, Indiana.

Sell -

Seller(S) 1

SELLER

Platte River Equity

Denver, Colorado, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 1.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Platte River Equity is a private equity firm focused on investing in small and middle-market private companies based in the US. Platte River generally invests $25 to $100 million of equity capital per transaction and looks for businesses that can benefit from the Firm's operating expertise. Sectors of interest include aerospace manufacturing and services, metals, chemicals, energy and energy services, natural resources, financial services, and communications. Platte River typically targets control investment situations, but will opportunistically pursue minority investments. Platte River Equity was formed in 2006 and is based in Denver, Colorado.


DEAL STATS #
Overall 3 of 18
Sector (Energy Services and Equipment) 1 of 6
Type (Add-on Acquisition) 1 of 6
State (Indiana) 1 of 2
Country (United States) 3 of 17
Year (2013) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-26 Wellmark

Oklahoma City, Oklahoma, United States

WellMark produces a full line of liquid and pneumatic flow controls and valves to the oil and gas and petrochemical industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-01 NorthBasin Energy Services

Edmonton, Alberta, Canada

NorthBasin Energy Services, Inc. is a Canadian energy technology and services firm focusing on the research, engineering, and manufacture of downhole drilling optimization solutions for the oil and gas drilling industry.

Sell -