Teton Buildings Has Completed a Majority Recapitalization of Lone Star Investment Advisors
Energy, Power & Infrastructure,
Industrial Services & Manufacturing
Mergers & Acquisitions
Houston, Texas
HOUSTON, January 22, 2013 – GulfStar Group (“GulfStar”) is pleased to announce the majority recapitalization of Teton Buildings (“Teton” or the “Company”), a portfolio company of FirstCity Crestone LLC (“FirstCity Crestone”), by Lone Star Investment Advisors (“Lone Star”). GulfStar served as exclusive financial advisor to Teton throughout the transaction, which closed on December 31, 2012.
Headquartered in Houston, Texas, with additional manufacturing facilities located in Casper, Wyoming and Bogota, Colombia, Teton is one of the largest U.S. manufacturers and a leading global provider of customized remote workforce and semi-permanent facilities. The Company primarily supplies facilities to the energy exploration and production, energy infrastructure and pipeline, construction, mining and disaster relief markets.
“GulfStar ran a great process highlighting the strength of Teton’s management team and its growth prospects,” said Jim Miller, Principal at FirstCity Crestone. “We were pleased with the result, and wish the company and Lone Star success as they continue to build a great company.”
The GulfStar team included Managing Director Tom Hargrove, Vice President Justin Moers, Associate James Berry and Analyst Kristie Ganss. “We were pleased to be able to provide liquidity to both FirstCity Crestone and Chris Braun, and continuing substantial ownership for Chris Braun, in the recapitalization of Teton,” said Hargrove. “The Teton owners and management achieved a high level of growth over four years by purchasing distressed assets and molding them into one of the major workforce manufacturers in the United States.”
About FirstCity Crestone
FirstCity Crestone is a special situations investment firm based in Denver, Colorado with assets under management of $50 million. The company invests in distressed companies, purchases non-performing loans, and executes small market buy-outs. Crestone is an affiliate of FirstCity Financial Corporation, a diversified financial services company with assets under management of over $400 million.
About Lone Star Investment Advisors
Lone Star is a Dallas-based private equity firm that specializes in leveraged acquisitions and recapitalizations of strategically viable middle-market businesses with strong potential for growth. Lone Star Invests in a wide variety of industry sectors including manufacturing / industrial, distribution, business services and energy. Lone Star specializes in investments that create employment opportunities in the communities in which they are located, and the Firm maintains a strong reputation for driving economic growth in low income areas.
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.
Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRA – SIPC.