CertifiedSafety Inc. Has Completed a Majority Recapitalization with HCI Equity Partners
HOUSTON, January 6, 2014 - GulfStar Group ("GulfStar") is pleased to announce the majority recapitalization of CertifiedSafety Inc. ("CertifiedSafety" or the "Company") by HCI Equity Partners ("HCI"). GulfStar served as exclusive financial advisor to CertifiedSafety throughout the transaction, which closed on December 20, 2013.
Headquartered in League City, Texas, CertifiedSafety is a leading provider of specialized safety and productivity services for major plant events such as turnarounds, shutdowns, outages, ongoing maintenance and capital projects. The Company serves the chemical, refining and power industries throughout the United States.
"Our stockholders were focused on selecting the right partner to continue CertifiedSafety's growth trajectory. We are very pleased to partner with HCI and look forward to working with them to capitalize on the strong opportunities ahead in the oil and petrochemical refining industry. GulfStar was instrumental in our selection of the right partner and guided us through the transaction process," said Whitney Strickland, Chairman, CertifiedSafety.
The GulfStar team included Managing Director Cliff Atherton, Senior Vice President Pam Reiland, Associate James Berry and Analyst Ben Stanton. "We are grateful for the opportunity to work with CertifiedSafety's owners and management team. Dan Dickinson and his team at HCI will be outstanding partners for CertifiedSafety," said Atherton.
About HCI Equity Partners
HCI Equity Partners is a private equity firm which invests in growth oriented industrial product and service companies with approximately $20 - $200 million of annual revenue. The members of the Firm partner with owners and managers of industrial companies, with a focus on assisting with operational improvements and supporting growth initiatives. The HCI Equity team has extensive experience in both private equity investing and operational leadership. Nine of eleven Principals have been Chief Executive Officer, President or Chief Financial Officer of an industrial company during their careers. Their combined experience enables HCI Equity to have a deeper understanding of industry sector trends and business fundamentals, and enhance performance of the companies in which it invests. The team focuses on building solid relationships with proven management teams and supporting them in the execution of their strategies. The CertifiedSafety investment follows HCI's successful investment in Mistras Group (NYSE: MG), which provides non-destructive testing services and equipment to a variety of industries including the petrochemical sector.
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 more than 30 states and ten 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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