COSTA MESA, Calif. - October 5, 2004 -- Pe Ben Industries Company Ltd. (Toronto: PBN) headquartered in Edmonton, Alberta, has acquired privately held Transcontinental Oilfield Industries Ltd., also of Edmonton. Transaction terms were not disclosed.
RSM EquiCo Capital Markets LLC, the broker-dealer subsidiary of RSM EquiCo, initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Transcontinental Oilfield Industries.
"Pe Ben Industries and Transcontinental Oilfield Industries have virtually identical business segments and customer bases," said Randy Krauthamer, managing director for RSM EquiCo Capital Markets. "This acquisition will greatly enhance the buyer's ability to serve these clients."
About Transcontinental Oilfield Industries Ltd.
Transcontinental Oilfield Industries provides transportation and storage services to Canada's oilfield and natural gas industries. The company, which primarily stores and transports pipe, handles related products such as matting, construction equipment, well-site trailers and service rigs. Transcontinental Oilfield Industries serves approximately 300 customers, including such industry leaders as EnCana, Murphy Oil, Anderson Exploration, El Paso Energy Partners and Anadarko Corporation.
About Pe Ben Industries Company Ltd.
Founded in 1957, Pe Ben Oilfield Services Ltd. provides oilfield services, bulk petroleum transport and pipeline subcontracting to the oil and gas industry through its wholly owned subsidiaries, Pe Ben Industries Company Ltd. and Pe Ben Bulk Transport Ltd. The company's operations include an oilfield transport segment, a pipeline subcontracting segment and a bulk petroleum transport segment.
About RSM EquiCo, Inc.
RSM EquiCo is a global investment bank serving private middle-market companies throughout North America. With more than 400 professionals and support staff in North America and Europe, RSM EquiCo specializes in mergers, acquisitions, divestitures and capital raising for companies with up to $500 million in annual revenue. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.