Volta Has Been Acquired by W-Industries
HOUSTON, September 5, 2019 -- GulfStar Group ("GulfStar"), a leading middle market investment bank, is pleased to announce the acquisition of Volta, LLC ("Volta" or the "Company") by W-Industries, Inc. ("W-Industries"), a subsidiary of CSE Global Limited ("CSE"). GulfStar served as the exclusive financial advisor to Volta throughout the transaction, which closed on August 30, 2019.
Volta is a leading supplier of low and medium voltage control centers, low and medium voltage switchgear, and integrated Electrical Equipment Centers and is supported by a team of strong engineers and technicians. Located in Houston, Texas, Volta maintains state-of-the-art fabrication capabilities, which can handle significantly large projects and employs over 120 full-time employees.
W-Industries is a U.S.-based subsidiary of CSE, a leading systems integrator targeting the oil and gas, petrochemical, utilities, public infrastructure, environmental and healthcare industries. CSE started its operations in 1985 as the engineering projects division of ST Technologies. A management buyout was successfully concluded in 1997, and CSE was listed on SGX in 1999. Since its establishment, CSE has grown to employ over 1,100 employees worldwide, operating a network of 36 offices globally and is today one of the world's largest independent system integrators.
"Combining Volta with W-Industries was the next logical step for Volta to achieve its full potential," said Brad Davis, president of Volta. "W-Industries and its affiliated companies have the resources to help fuel our growth, while allowing us to maintain the efficient and productive operating practices that have made Volta what it is today. Cliff Atherton and the entire GulfStar team did an excellent job preparing the Company and managing the sale process from start to finish. Their thoughtful guidance was instrumental in finding the right buyer and structuring a favorable transaction for the Volta owners."
"Volta's exceptional skills in manufacturing and project management will make a positive contribution to W-Industries, and the combined companies will offer an outstanding set of products and services to the global energy industry," said Cliff Atherton, managing director of GulfStar. "It was our pleasure to work with Brad and the Volta team on this important transaction."
The GulfStar team included Managing Director Cliff Atherton, Vice President Charlie Craig, Associate Tyler Tribble and Analyst Jay Lee. Chuck Powell and Addison Churay of Norton Rose Fulbright LLP provided legal counsel to Volta. Brad McGovern of Seitz, DeMarco & McGovern PLLC provided accounting and tax advice.
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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 more than 680 transactions in 35 states and 16 foreign countries across a variety of industries.