Doyles Valves, Inc. Has Been Acquired by Acquired by Axon Energy Products

HOUSTON, July 9, 2012 - GulfStar Group ("GulfStar") is pleased to announce the sale of Doyle's Valves, Inc. ("DOYLES" or the "Company") to Axon Energy Products ("Axon"), a portfolio company of HitecVision Private Equity. GulfStar served as exclusive financial advisor to DOYLES regarding the transaction, which closed on June 29, 2012.

Based in Houston, DOYLES is a leading manufacturer of pressure control equipment to the onshore oil and gas exploration and production industry. The Company is an API certified manufacturer of valves, blowout preventers, choke and kill manifolds, gauges, flanges, replacement parts and other related equipment.

Company owner and Chief Executive Officer Dan Henderson said, "GulfStar provided substantial value helping DOYLES navigate this process. They evaluated multiple strategic options in detail prior to our electing to pursue a sale, giving us the confidence we were choosing the right course of action."

The GulfStar team included Managing Director Bryan Frederickson, Vice President Brian Lobo, Associate Robert Bryan and Analyst Judge Hudson. "We appreciate the trust that DOYLES put in GulfStar assisting it through this process and are pleased to get to a successful conclusion," said Frederickson. "The Company's management team was a pleasure to work with and its combination with Axon should yield strong strategic benefits for both parties."

About GulfStar Group

GulfStar is a leading middle market investment and merchant bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and restructuring, turnaround and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 550 transactions in more than 30 states and seven foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.

For additional information, please email bfrederickson@gulfstargroup.com or call (713) 300-2030. 

Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRASIPC.