RWI Construction, Inc. Has Been Acquired by Lone Star Investment Advisors
HOUSTON, November 27, 2012 - GulfStar Group ("GulfStar") is pleased to announce the sale of RWI Construction, Inc. ("RWI" or the "Company"), a portfolio company of Sorenson Capital, to Lone Star Investment Advisors (“Lone Star”). GulfStar served as exclusive financial advisor to RWI throughout the transaction, which closed on October 19, 2012.
Founded in 1979, RWI is a leading provider of wellhead production and upstream infrastructure services to blue-chip oil and natural gas producers in the Permian Basin, one of the nation's most established and productive oil sources. The Company provides essential above-ground maintenance services for oil and natural gas well-sites, as well as the associated production gathering facilities and pipeline infrastructure. RWI is headquartered in Midland, TX with additional operations in Monahans, TX and Hobbs, NM. The Company will continue to be led by its existing management team.
The Lone Star transaction team included Managing Partner Arthur Hollingsworth and Vice President Bryan Grabowsky. "We are extremely excited to work with Lyndal Trout, President of RWI, and the rest of the management and sales team. Lyndal's vast wealth of knowledge in the industry and the presence that RWI has in the Southwest, coupled with Lone Star's experience with our prior investments in oil and gas services, complement this transaction beautifully," said Arthur Hollingsworth.
The GulfStar transaction team included Managing Directors Colt Luedde and Alan Blackburn, Vice President Brian Lobo and Analyst Kristie Ganss. "We are very pleased with the outcome of this transaction," said Colt Luedde. "RWI enjoys a leading market position in the largest, most active oil basin in the United States. With significant opportunities for growth readily available, Lone Star's investment will allow the Company the ability to capitalize on its strategic initiatives."
About Sorenson Capital
Sorenson Capital is a private equity fund that provides small to middle-market buyout and growth equity investments, with a particular focus on opportunities in selected states in the Mountain and Western regions of the United States.
About Lone Star Investment Advisors
Lone Star Investment Advisors is a Dallas-based private equity firm with over $450 million in assets under management that specializes in acquisitions and recapitalizations of strategically viable, middle-market businesses with strong potential for growth. The firm invests in a wide variety of industry sectors including manufacturing, distribution, energy, industrial and business services and has been recognized by PitchBook as one of the top four performers of all private equity firms with energy services investments. Lone Star specializes in investments that will create employment opportunities in low to moderate income communities of Texas.
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 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 575 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.