Transition Capital Partners Sells LT Energy Services to B/E Aerospace

DALLAS--()--Dallas-based Transition Capital Partners (“TCP”) announces that it has closed on the sale of its portfolio company, LT Energy Services (“LT” or the “Company”), to B/E Aerospace (Nasdaq:BEAV), the world’s leading manufacturer of aircraft cabin interior products and the world’s leading provider of aerospace fasteners, consumables and logistics services. The sale was part of B/E Aerospace’s previously announced acquisition of two oil field service companies for $265 million. Houlihan Lokey served as the exclusive sell-side financial advisor to LT Energy Services and Locke Lord LLP acted as corporate legal counsel.

Acquired by TCP in April 2012, LT is headquartered in Houston and provides rental equipment and accommodation systems to major oil & gas producers. Under TCP’s ownership and direction, LT expanded from 10 employees with one field location in the Haynesville Basin in Northern Louisiana, to 100+ employees across five locations operating in three regions, including the Eagle Ford basin in South Texas and the Colony Granite Wash region in Oklahoma.

During two years of ownership, TCP grew LT tremendously, providing growth capital and strategic direction, while also strengthening the management team, internal systems and processes. The sales price of the transaction was not disclosed, but TCP noted that LT was acquired for approximately 4x EBITDA and sold to B/E Aerospace for approximately 6x EBITDA.

The transaction was led by TCP Managing Director Kevyn DeMartino and TCP Principal Jake Williams.

ABOUT TRANSITION CAPITAL PARTNERS

Founded by Dan Patterson in 1993, Transition Capital Partners (“TCP”) is a Dallas-based private equity firm with over 20 years of proven experience investing in and building companies. TCP is known for building partnerships with its founders/entrepreneurs, and putting strategic plans in motion to strengthen and accelerate the growth of each company. Portfolio businesses are transformed into more diversified and professionally managed enterprises that are substantially more valuable for all stakeholders. TCP seeks investment in entrepreneurial, growth-oriented businesses with revenues under $50 million. While TCP has a generalist approach, it is particularly interested in energy, business services, niche manufacturing, consumer products, healthcare and consumer finance sectors. For more information, please visit www.tcplp.com.

ABOUT HOULIHAN LOKEY

Houlihan Lokey is an international investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and Asia. Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services. Houlihan Lokey is ranked as the No. 1 global restructuring advisor, the No. 1 M&A fairness opinion advisor for U.S. transactions over the past 10 years, and the No. 1 M&A advisor for U.S. transactions under $3 billion, according to Thomson Reuters. For more information, please visit www.HL.com.

Contacts

C. Pharr & Company for Transition Capital Partners
Cynthia Pharr Lee, 972-931-7576, ext 352
Cynthia@pharrpr.com

Release Summary

Transition Capital Partners sells LT Energy Services to B/E Aerospace

Contacts

C. Pharr & Company for Transition Capital Partners
Cynthia Pharr Lee, 972-931-7576, ext 352
Cynthia@pharrpr.com