SAN FRANCISCO--(MidSpan Partners is pleased to announce the sale of Jordan Technologies (“Jordan” or the “Company”) to Flare Industries, a portfolio company of Texas-based private equity firm Turnbridge Capital, LLC. Jordan Technologies is the leading supplier of vapor recovery units (VRUs) and the largest service provider for VRUs in the world market. MidSpan Partners served as the exclusive financial advisor to the Jordan shareholders.)--
“They worked closely with management and the shareholders through every step of the process and were able to guide the Company through the intricacies of the sell-side process. MidSpan’s focus and dedication of resources ensured the best possible outcome for Jordan.”
“From our first meeting through to the closing, the MidSpan team was an invaluable partner,” said Mark Jordan, president, Jordan Technologies. “They worked closely with management and the shareholders through every step of the process and were able to guide the Company through the intricacies of the sell-side process. MidSpan’s focus and dedication of resources ensured the best possible outcome for Jordan.”
Founded in 1980, Jordan is headquartered in Louisville, KY and designs, manufactures and actively services VRUs for a broad range of customers in the petroleum, petrochemical, ethanol, and natural gas industries. Jordan's VRUs recover a variety of volatile organic compounds in truck, rail, marine and tank breathing applications as well as crude, ethanol, and natural gases. As the largest service company for VRUs in the world market, Jordan provides service to the majority of the world’s operational VRUs, including other manufacturers’ equipment. For more information about Jordan Technologies, please visit www.jordantech.com.
Flare and Jordan will continue to maintain both highly-recognized brands in the market and the commitment to customer satisfaction. Michael Hainsworth, CEO of Flare Industries, will serve as CEO of the combined company, while Mark Jordan will remain as Jordan’s president. John Jordan Jr. and Paul Jordan will continue in their current positions at the Company. John U. Clarke of Turnbridge Capital remains as executive chairman.
Details of the transaction, which closed on Tuesday, September 11, were not disclosed.
MidSpan Partners (www.midspanpartners.com) is a leading independent investment bank focused exclusively on the lower middle market. Headquartered in San Francisco, CA, MidSpan provides mergers & acquisition and capital raising advisory services across a range of industries, including consumer products, business services, specialty industrial, energy & environmental services, software, and transportation & logistics. Jordan represents the fifth closed transaction of the year for MidSpan.
All securities products and services are offered through Instream Partners LLC, a registered broker-dealer and FINRA/SIPC member firm and an affiliate of MidSpan Partners.