Sabino Electric, Inc., based in Tucson, Arizona, is a full-service electrical contractor specializing in both commercial and light industrial work. Sabino self-performs medium and high voltage installation, testing and repair, infrared thermography, voltage and current diagnostics, and other services that maintain the lifespan of clients’ electrical distribution systems. Recognized for its quality and safety, Sabino distinguishes itself by providing a superior value proposition to its highly repeat customer base.
Sabino joined with three other electrical service providers in the TEGG network to form BCES Global through an investment by BDC Capital (the full press release can be found here: Kroon Electric Corp. Secures Significant Growth Capital Investment and Forms BCES Global Platform (prweb.com)). Broadside Advisors acted as sole M&A advisor to Sabino in this transaction, and helped Sabino navigate the process, which involved winding down certain project work, dealing with potential union issues, and a complex deal structure in a cross-border transaction that achieved a strong valuation and significant potential equity growth as part of the new platform investment.
Hayes Mechanical, LLC, based in Chicago, is a full service mechanical contractor specializing in both commercial and industrial work. Founded in 1918, the company self performs boiler service, piping, HVAC service, controls/automation, mechanical installation, maintenance and plant services as well as millwright services for process and heavy industrial facilities that require uniquely skilled craftsman. The sale of Hayes was complicated, as it involved splitting the business into two companies and navigating union pension plan withdrawal liabilities, but our experience helped the buyer mitigate risk while allowing a strong valuation for the seller.
Facility Systems Services, Inc., based in Charlotte, is a full service facilities services provider of building automation, controls, HVAC and mechanical system maintenance, design and installation for mission critical facilities. Working to meet our client’s desire for a/ good valuation while finding the right buyer for the customers and employees, we identified a strong buyer that was able to give the sellers a premium valuation and roll over equity in the company.
T.F. Hudgins Announces the Acquisition of Pro-Line Inspections, Inc.
Acquisition Strengthens Predictive Maintenance Services Regionally and Nationwide
Houston, TX, October 2, 2017 – Texas-based T.F. Hudgins, Inc. announced today the acquisition of Simi Valley, California-based Pro-Line Inspections, Inc. Founded in 1947, T.F. Hudgins (www.tfhudgins.com) is a reliability-centered manufacturer, distributor and service provider operating in a variety of industrial processing, oil & gas and petrochemical end-markets. Following the merger of Allied Reliability Group in 2016, the company delivers best-in-industry operational reliability solutions that improve equipment effectiveness and reduce operating costs.
Pro-Line Inspections is a multi-industry predictive maintenance firm that specializes in the use of infrared and ultrasound inspection technologies to identify equipment problems in advance of failure. The company is known for developing an advanced method of analyzing infrared problems by utilizing a load-based temperature methodology based on IEEE and ANSI standards. The acquisition of Pro-Line Inspections will add to the T.F. Hudgins and Allied Reliability portfolio of predictive maintenance services, particularly on the West Coast of the United States.
According to Jay Burnette, CEO of T.F. Hudgins, “The addition of Pro-Line inspections will provide an immediate expansion to our infrared predictive service business. Pro-line has pioneered several applications of infrared inspection technology and has developed impressive customer relationships throughout the U.S. Those same customers will benefit from a much broader portfolio of predictive maintenance services from T.F. Hudgins and Allied Reliability.” T.F. Hudgins is a portfolio company of The CapStreet Group.
