Harris Williams & Co. Advises Energy Solutions International, Inc. in its Sale to GFI Energy Group
Harris Williams & Co. is pleased to announce the sale of Energy Solutions International, Inc. (Energy Solutions), a portfolio company of Inverness Graham Investments (Inverness Graham), to GFI Energy Group of Oaktree Capital Management (GFI). The transaction closed on September 17, 2010. Harris Williams & Co. acted as the exclusive advisor to Energy Solutions. The transaction was led by Jeff Bistrong, Derek Swaim, Tyler Dewing and Nick Patel from the firm's Technology, Telecom & Digital Media (TTDM) Group, along with Drew Spitzer from the firm's Energy & Power (E&P) Group.
"Energy Solutions is a world leading provider of enterprise software that manages and monitors the operational controls and commercial transactions of pipelines, land and marine terminals, and refineries in real-time and from initial order to cash receipt," said Jeff Bistrong, managing director and head of Harris Williams & Co.'s TTDM Group. "We are continuing to experience strong interest from strategic and financial buyers for energy technology companies with differentiated market positions, such as Energy Solutions."
"With oil and gas meeting nearly 60% of the world's growing energy needs, Energy Solutions' customers are expanding their midstream infrastructure and logistics capabilities to more efficiently distribute and market fuel from remote sources," added Drew Spitzer, managing director and co-head of Harris Williams & Co.'s E&P Group. "By serving many of the largest integrated energy companies globally, Energy Solutions is well positioned to capitalize on this ongoing expansion."
Energy Solutions is a leading global supplier of pipeline management software. The company's broad range of products drives excellence in operational efficiency, transaction management, throughput management, and pipeline safety. Energy Solutions serves more than 500 clients in over 50 countries through its offices in the United States, United Kingdom, United Arab Emirates, India, Singapore, China and Canada. Energy Solutions is committed to providing integrated solutions to address the unique challenges of the industry. Energy Solutions' products support essential workflows by integration with each other and third party applications. The company's products integrate with systems from all major SCADA vendors including Invensys, Siemens, Honeywell, ABB, SAIC, Yokogawa, and Telvent and major ERP vendors including SAP and JD Edwards.
Inverness Graham is an operationally focused, lower-middle market private equity firm headquartered in suburban Philadelphia. Inverness Graham acquires high growth, innovative manufacturing and service companies with enterprise values of less than $75 million. The firm has over $175 million under management and was founded by senior executives of the Graham Group of industrial businesses.
GFI Energy Group is a private equity investment arm of Oaktree Capital Management, a Los Angeles-based investment firm with approximately $76 billion in assets under management. GFI invests in profitable, growing companies with innovative products and services used in the power and energy industries. Through its fifteen year history, GFI has invested in more than sixty transactions with aggregate value of over $2.5 billion.