LineStar Services, a portfolio company of Blue Point Capital Partners, has acquired Slaughter and Stanley Construction. No financial terms were disclosed. Based in Texas, S & S is a provider of pipeline maintenance and installation solutions to energy companies.
CLEVELAND, OH–(Marketwired – Mar 31, 2014) – Blue Point Capital Partners, in conjunction with its portfolio company, LineStar Services, Inc., announced today the acquisition of Slaughter and Stanley Construction, Inc. (S&S), a leading provider of pipeline maintenance and installation services to companies in the energy industry.
The S&S transaction represents the third acquisition for LineStar, a holding company established to pursue investments in the oil and gas pipeline services market. Similar to existing LineStar operations, S&S provides its customers with a one-stop solution for pipeline maintenance and integrity work.
“The S&S acquisition strengthens LineStar’s platform in West Texas and diversifies the Company’s customer base and service offering,” said Sean Ward, a partner with Blue Point. “LineStar has made significant investments to strengthen the business since our initial investment in 2009, and the acquisition of S&S supports our strategy of building a growth-oriented platform within the energy services industry.”
LineStar (www.linestar.com) focuses on providing premier service to owners and operators of oil and gas infrastructure. Headquartered in Houston, TX, LineStar provides a full suite of high-quality integrity, maintenance and construction services through its operating subsidiaries Tucker Construction and Tucker Midstream. The Company operates out of four locations in Oklahoma and two in Texas, providing coverage throughout the Southwest U.S.
Paul Neundorfer, president and chief executive officer of LineStar, said, “S&S is an excellent fit within the LineStar platform from an operational standpoint. As important, our views of the market and company cultures are well aligned, which we expect will foster integration and growth going forward.”
Blue Point Capital Partners (www.bluepointcapital.com) is an established private equity firm managing over $800 million in committed capital. Leveraging fully staffed offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point’s entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. Blue Point has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point’s network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm’s experience with cross-border management and value drivers has provided a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.