31 January 2014
Dallas-based Transition Capital Partners said it has closed on the sale of its portfolio company, LT Energy Services to B/E Aerospace (NASDAQ: BEAV).
The sale was part of B/E Aerospace´s previously announced acquisition of two oil field service companies for USD265m. 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 and 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.
Founded by Dan Patterson in 1993, Transition Capital Partners is a Dallas-based private equity firm with over 20 years of proven experience investing in and building companies. For more information, visit www.tcplp.com.