FHE USA LLC Has Been Acquired by Basin Tools LP
Energy, Power & Infrastructure,
Industrial Services & Manufacturing
Mergers & Acquisitions,
Cross-Border Transactions
Alberta, Canada
HOUSTON, November 13, 2014 – GulfStar Group (“GulfStar”) is pleased to announce the acquisition of FHE USA LLC (“FHE” or the “Company”) by Basin Tools LP (“Basin Tools”). GulfStar served as the exclusive advisor to FHE throughout the transaction, which closed on November 3, 2014.
FHE designs, manufactures, pressure tests, certifies, assembles and distributes surface and subsurface wireline equipment primarily for the North American oil and gas industry. FHE markets new high-pressure equipment and expendables as well as delivers superior service and response time to provide customers with all the necessary tools and provisions to ensure economical and efficient wireline operations. The Company is headquartered in Fruita, Colorado with an additional location in San Antonio, Texas.
“We appreciate all of the sound counsel and good advice GulfStar provided over the last 10 months,” said Nick Snoke, President of FHE. “GulfStar has been a great business partner through the entire process and worked tirelessly with all of the parties involved to get us to closing.”
Basin Tools is comprised of a portfolio of equipment manufacturers providing advanced oilfield equipment and technology to North American and international customers. Basin Tools’ product portfolio includes a variety of downhole drilling tools and accessories used for numerous drilling applications.
The GulfStar team included Managing Director Kent Kahle, Vice President Justin Moers, Associate Rupert Gerard, and Analyst Patrick Wilkey. “It was a pleasure to work with FHE’s management, passive owners and Basin Tools’ acquisition team,” said Kahle. “We believe this is a win-win for both FHE and Basin Tools as FHE can dramatically expand using Basin Tools’ distribution capabilities.”
About GulfStar Group
GulfStar is a leading middle market investment 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 approximately 600 transactions in 32 states and 10 foreign countries across a variety of industries.
Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRA – SIPC.