IVS Investment Banking, a leading provider of merger and acquisition (M&A), recapitalization, management-led buyout, private placement and consulting services, is pleased to announce the successful closing of a leveraged recapitalization of Specialty Welding and Turnarounds LLC (SWAT). IVS works with owners and management teams to acquire and sell manufacturing, distribution and service-oriented businesses associated with the energy industry.
Based in Gonzales, Louisiana, SWAT is a leading provider of specialty welding and other turnaround services to refinery, petrochemical and industrial customers. Founded in 2014 by an experienced executive management team, SWAT is an industry leader with elite craftsmen serving its blue chip customer base, along with an unprecedented commitment to safety and quality service.
Hastings Equity Partners is a private equity firm focused on investing in lower- and middle-market energy services and equipment companies.
“We are thrilled to partner with the talented team at SWAT,” said Ted Patton, managing director of Hastings. “SWAT’s highly technical capabilities, excellent safety culture, and blue chip customer base explain the organization’s incredible growth over the last four years. In addition, the organization’s recent expansion into mechanical services will complement its already strong presence in specialty welding. Under the leadership of co-founders Johnny Holifield and Jimmy Quick, SWAT has an extremely bright future.”
The investment in SWAT is a major milestone for Hastings as it marks the firm’s first investment for Hastings Equity Fund III LP in the downstream services sector. This market will be a key area of focus for Hastings moving forward.
“We pride ourselves on providing our customers unprecedented quality and results in the safest way possible, and are confident Hastings will support our growth moving forward,” said Johnny Holifield, president and chief executive officer of SWAT. “Our partnership with Hastings allows us to further expand our service capabilities, geographic footprint, and culture of best practices. With a team that is comprised of the industry’s best, there is no limit to what we can build here at SWAT.”
Cadence Bank led the financing for the transaction, and IVS Investment Banking represented the shareholders of SWAT. “The team from IVS did a great job in representing our interests throughout the deal process,” said Holifield. “They were wonderful facilitators. I’d highly recommend their services.”
IVS principals have worked on M&A transactions and financings whose aggregate value has totaled in excess of $1 billion.
For more information, contact Thomas Brinsko at (281) 538-9996 or visit www.ivsinvestmentbanking.com.