D.A. Davidson & Co. Leads Negotiations as Pacific Consolidated Industries Undergoes Management Buyout

COSTA MESA, Calif.--()--D.A. Davidson & Co. has advised Pacific Consolidated Industries LLC (PCI), a leading supplier of on-site oxygen and nitrogen generation technology, in its buyout backed by Horton Investment Group, along with Management, and Main Street Capital Corporation (Main Street).

D.A. Davidson acted as exclusive financial advisor to PCI. Transaction terms were not disclosed.

Bob Eng, CEO, said, “Our management team is excited to complete the acquisition and create significant value for our shareholders, customers, employees, and partners in this new entity. We will diligently focus on delivering reliable and cost effective air separation systems to our end customers needing to produce oxygen and nitrogen at their point of use.”*

“I’m delighted to partner with Management and Main Street to support PCI’s growth programs,” reported John Horton, senior investor in the Horton Investment Group. “We look forward to a rewarding experience with Main Street and this committed and proven management team.”

About Pacific Consolidated Industries

For nearly three decades, PCI has provided rugged, mobile liquid and gaseous oxygen and nitrogen generating systems for the military, oil and gas, and commercial oxygen markets. Its products enable customers to generate oxygen and nitrogen in the field both inexpensively and reliably, and target applications for which distributed industrial gases are either too expensive or too difficult to obtain. PCI has established itself as a global leader in air separation technology with thousands of systems installed in over 35 countries.

About Main Street Capital Corporation

Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.

About D.A. Davidson & Co.

Founded in 1935, D.A. Davidson holds $23 billion in client assets under management and serves clients nationwide from offices in 18 states. D.A. Davidson’s Investment Banking Group provides full-service underwriting and advisory services for mid-size and growing companies, including public offerings, mergers and acquisitions and private placements. For information, visit www.davidsoncompanies.com/ecm

*Testimonials are not to be considered representative of the experience of all clients, and do not represent a guarantee of future performance or success.

Contacts

D.A. Davidson & Co.
Miro Lazarov, Director, Head of Energy Investment Banking
714-327-8852
mlazarov@dadco.com
or
Meghan Timlick, Associate, Investment Banking
714-327-8530
mtimlick@dadco.com

Release Summary

D.A. Davidson & Co. advised Pacific Consolidated Industries, a supplier of oxygen and nitrogen generation tech, in a buyout backed by Horton Investment Group, with management and Main Street Capital.

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Contacts

D.A. Davidson & Co.
Miro Lazarov, Director, Head of Energy Investment Banking
714-327-8852
mlazarov@dadco.com
or
Meghan Timlick, Associate, Investment Banking
714-327-8530
mtimlick@dadco.com