DALLAS, April 27, 2012 – Capital Alliance Corp. (www.cadallas.com), a global mid-market investment banking firm, counseled CDK Perforating LLC, a $35 million Bridgeport, TX, oil field services company, throughout the sale of the company to SCF Partners of Houston, an energy-related private equity firm with approximately $1.5 billion in assets under management.
CDK provides wellbore perforating services, wireline and well logging services to oil and gas exploration and production companies. The company had grown from its Texas base, which served Texas, Oklahoma and Arkansas, to include locations in the Northeast of the U.S., serving West Virginia, New York and Pennsylvania. CDK’s revenues and profits had more than doubled over the two years prior to its acquisition by SCF.
“CDK was at a critical point in its corporate life,” said Erik Slockers, senior vice president of Capital Alliance. “Replacing or refurbishing the company’s capital equipment was consuming a significant portion of its cash flow. A strong financial partner was needed to help them through this period. In addition, the founding partners were interested in diversifying their holdings.”
Over the course of the engagement, Capital Alliance identified as many as 42 potential acquirers for CDK. SCF had extensive experience with oil field service companies, having built more than 50 platform service companies. Over the years, SCF has made more than 275 growth acquisitions. Eventually, the founders of CDK sold a controlling interest in the company to SCF, but retained significant ownership in the new entity.
About Capital Alliance
Capital Alliance is a global mid-market investment banking firm providing consulting services for mergers and acquisitions. The company represents client companies in a variety of markets, including energy, construction and engineering, manufacturing and business services. Since its founding in 1976, the privately held firm has completed more than 200 transactions with an aggregate transaction value in excess of $3 billion. For more than 25 years, Capital Alliance has been a member of M&A International, an organization of investment banking firms operating in the major economies of the world.
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