DALLAS, Aug. 9, 2012 – Capital Alliance, a leading Dallas-based private investment banking firm, today announced the closing of the sale of Enerflow Industries to National Oilwell Varco. Capital Alliance served as the exclusive advisor to Enerflow, positioning the client for a sale, and structuring and negotiating the terms of the transaction. The sale will greatly expand National Oilwell Varco’s product offering for hydraulic fracturing devices.
Enerflow Industries is a leading fabricator and manufacturer of pressure pumping, blending, cementing, and other service equipment. The company has over 650 employees and several hundred thousand square feet of facilities across Calgary, Tulsa, and Houston.
National Oilwell Varco is a publicly traded company with $14.6 billion in annual revenues, over 100 subsidiaries, and approximately 50,000 employees. The company is a worldwide leader in providing major components for land and offshore drilling rigs and related devices.
“We focused our efforts on several large and globally diversified parties that brought different options to senior management,” says Paul Puri, Executive Vice President and Principal of Capital Alliance. “We developed a highly complementary and effective working relationship with the shareholders. They entrusted us with maximizing several dimensions of the transaction, including their personal and estate goals, the fit with the organization, and the ongoing capitalization of the business.”
“We are excited to be part of National Oilwell Varco and look forward to continuing to expand the business and its global footprint,” says Mark Williamson, Executive Director and shareholder of Enerflow Industries. “Capital Alliance provided invaluable guidance, contacts, critical negotiating skills, and tenacity and exceeded our objectives in this complex sale process. We are pleased to have partnered with them.”
“Enerflow brings to NOVs Pressure Pumping Equipment division products that are highly complementary and enable us to provide our customers with a comprehensive offering anywhere in the world,” says John Gatlin, NOVs President of Pressure Pumping Equipment. “Moreover, Enerflow’s reputation for innovation, quality, and customer service aligns with the rest of the division. We are very honored to welcome the over 650 employees of Enerflow to NOV.”
The transaction closed on May 11th, 2012. Bennett Jones served as the legal advisor to Enerflow Industries.
Established in 1985, M&A International Inc. offers the unparalleled, global resources of over 600 M&A professionals operating in every major financial center of the world. We are closely linked and together we advise our clients on acquisitions, divestitures and financing. We have closed over 1,400 transactions totaling more than US$85 billion in transaction value in the past five years.
Capital Alliance has been a member of M&A International since 1986.