The Selling Company: JSS Roustabouts, LLC – Velma, Oklahoma
Why the company was sold: The owner was nearing retirement and had two objectives: provide for his retirement with cash from the sale of the company, while also transferring a portion of his equity to his son, who was active as the #2 person in the company.
Capital Alliance’s Performance: Capital Alliance brought in a private equity buyer who was interested in buying just one company and, following the acquisition, actively participating in the day-to-day management of the company. This company needed more management talent to oversee the accounting and administration, and growing the customer base. Capital Alliance put together an online due diligence site, helped upload the relevant documents, and worked with the accountants and attorneys to finalize the transaction.
Terms of the Transaction: The funding for the transaction consisted of cash and subordinated debt, along with a consulting agreement for one year, with options to continue beyond that time.
The Acquiring Company: The Willistown Group is a private equity firm headquartered in Malvern, Pennsylvania.