GulfStar Group Completes Private Placement Financing for Strike, LLC
GulfStar Group Inc.
Phone: (713) 300-2025
HOUSTON, August 12, 2011 — GulfStar Group (“GulfStar”) is pleased to announce that Strike, LLC (“Strike” or the “Company”) has obtained $29,250,000 of senior subordinated debt financing from Kayne Anderson Mezzanine Partners, L.P. GulfStar served as exclusive financial advisor to Strike during the transaction, which closed on August 1, 2011.
Strike is a diversified provider of integrated infrastructure services, including pipeline integrity, maintenance, repair and construction services for customers in the midstream energy industry. The Company operates from its 12 field office locations across Texas and Louisiana. Strike has developed an industry-leading reputation for its superior pipeline testing capabilities and performs hundreds of government-mandated pipeline integrity tests each year.
Kayne Anderson Mezzanine Partners, L.P. manages $600 million in committed capital and invests in middle market companies across a diverse range of industries, predominantly in North America.
The GulfStar transaction team included Managing Director Kent Kahle, Vice President Chris Coonfield and Associate Jay Stone. “We are grateful to have had the opportunity to work with Strike on yet another successful transaction and look forward to working together in the future,” says Kahle.
GulfStar Group is a leading middle market investment and merchant bank headquartered in Houston, Texas, with a strong market presence in Austin, Dallas, Louisiana and Oklahoma. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, restructuring and turnaround advisory services and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 500 transactions in more than 30 states and six foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.
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