Clearview Capital has acquired Dakota Line Contractors LLC, a Bismarck, N.D.-based provider of horizontal directional drilling services. No financial terms were disclosed. Clearview structured the deal as an add-on for existing portfolio company Hettinger Welding LLC, a provider of facilities construction, pipelining and welding services for customers building natural gas infrastructure in the
Clearview Capital, LLC of Old Greenwich, CT has completed the acquisition of Bismarck, ND based Dakota Line Contractors LLC, which provides horizontal directional drilling services for a variety of industries including pipeline installation in the oil and gas industry, and installation of rural water, telecom and cable lines for utility companies.
The transaction was structured as an add-on acquisition for Clearview's portfolio company Hettinger Welding, LLC, a leading provider of facilities construction, pipelining and welding services for customers building natural gas infrastructure in the
Dakota's horizontal drilling services give the construction provider the ability to run lines under obstacles such as roads, rivers, environmentally sensitive areas and other pipelines all with minimal surface disturbance. Dakota's territory currently extends from
Eric Richard, the founder of Dakota, re-invested a portion of his proceeds into Hettinger Welding, LLC, obtaining an equity stake similar to other key management. Richard will assume management of Hettinger's and Dakota's directional drilling operations.
The transaction closed on November 8, 2007. The transaction was arranged by Clearview Capital, LLC. Senior debt was provided by LaSalle Business Credit and mezzanine financing by Hartford Investment Management.