Jones Industrial Holdings, Inc. Has Received Financing from Capital Point Partners
December 1, 2011 - GulfStar Group is pleased to announce that Jones Industrial Holdings, Inc. ("Jones" or the "Company") has obtained $7,000,000 of senior subordinated debt financing from Capital Point Partners. GulfStar served as exclusive financial advisor to Jones during the transaction, which closed on November 29, 2011.
Jones is a leading provider of installation, maintenance and repair of critical rotating and reciprocating equipment for customers in the downstream, power and midstream segments of the energy market. The Company is headquartered in Deer Park, Texas, and operates as Universal Plant Services in seven facilities across Texas, California, Louisiana and Washington. Jones' primary customers are industrial facilities, such as refineries and chemical plants, power generation plants, and pipeline transmission and distribution assets.
"This transaction will help us to meet our growth objectives over the next several years," said Stewart Jones, Executive Vice President of Jones Industrial. "We're excited about the near- and long-term opportunities for our firm in the midstream and downstream energy segments, and we look forward to a successful partnership with Capital Point," said Brad Jones, President of Jones Industrial.
Capital Point Partners, headquartered in Houston, Texas, is a provider of mezzanine securities in a wide variety of transaction types including buyouts, recapitalizations and re-financings, mergers and acquisitions, and growth/expansion situations. Capital Point invests in companies owned by established equity sponsor groups, companies with fundless sponsor involvement and also directly with management teams. Capital Point's investment sizes typically range from $5-$20 million.
The GulfStar Group transaction team included Managing Director Cliff Atherton, Vice President Chris Coonfield, Associate James Berry and Analyst James Steen. "It was a pleasure working with Jones Industrial on this transaction," said Cliff Atherton. "Capital Point's knowledge, experience and capital will assist Jones in meeting the growing demand for their unique service offering. Capital Point was a good choice for the Company. They are local and have the relationship orientation that fits well with a family business like Jones."
About GulfStar Group
GulfStar Group is a leading middle market investment and merchant bank headquartered in Houston, Texas, with a strong market presence in Austin, Dallas, Louisiana and Oklahoma. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, restructuring and turnaround advisory services and general corporate finance advisory services to companies with revenue or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 500 transactions in more than 30 states and six foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.
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