DALLAS, June 19, 2013 – Capital Alliance Corp. (www.cadallas.com), a global mid-level investment banking firm, represented Panhandle Oilfield Services Companies, Inc., Liberal, Kan., a leading oil and gas services company, in the sale of the company to two private equity firms, Argosy Capital of Wayne, Penn., and Akoya Capital of Chicago, Ill.
“Panhandle Oilfield Services had reached the point where its executive team knew the company needed to continue to grow, and that with outside capital and additional strategic management oversight it could grow much faster than it had been,” explained Michael Stengle, senior vice president and principal at Capital Alliance. “The shale formations where Panhandle services its blue chip oil and gas clientele are expected to experience strong growth in both drilling and production. In particular, the Mississippian Lime formation where Panhandle is headquartered should experience significant growth.”
Of the possible acquiring companies reviewed by members of Panhandle Oilfield Services’ executive team, the deal presented by Argosy and Akoya was selected because of the private equity firms’ expertise and experience in environmental and energy services. The acquiring firms will participate in the leadership of the acquired company at the board of directors level.
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 $2.5 billion. Capital Alliance is a longtime member of M&A International, a network of investment banking firms operating in the major economies of the world.
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