DALLAS, March 7, 2018 — Allegiance Capital Corporation, a Dallas, Texas-based private M&A investment bank that specializes in middle-market transactions, announced today that it has facilitated an investment in its client, Pinnacle Manufacturing, LLC (“Pinnacle”), from Turning Basin Capital (“TBC”) and Vigeo Investments. TBC, a Richmond, Virginia-based private equity firm, targets investments in entrepreneurial service providers and equipment manufacturers serving the energy and power sectors. TBC’s equity co-investor, Vigeo Investments, is a Denver, Colorado-based private family office. Allegiance Capital Corporation served as the exclusive financial advisor to Pinnacle.
Headquartered in Boaz, Alabama, Pinnacle manufactures and refurbishes tanks and containers for the storage, transportation and disposal of hazardous and non-hazardous solids and liquids. Pinnacle’s products are used in the environmental, industrial, and energy markets.
“Allegiance Capital understood the dynamics of our industry and was a great partner throughout the transaction process,” said Jason Satterfield, Pinnacle’s Co-Founder. Co-Founder Joby Satterfield added, “Their skill in identifying a compatible investor that understood the unique opportunities in both Pinnacle and our industry was remarkable.”
“We are excited about the Pinnacle and Turning Basin partnership,” said John Sloan, President and CEO of Allegiance Capital. “Pinnacle’s operational excellence and Turning Basin’s capital markets expertise forms a powerful combination to fuel the future growth of the business.”
“As the domestic energy and industrial sectors continue to thrive, the market for Pinnacle’s products is positioned for significant growth,” said Mark Murray, Managing Director of TBC. “Additionally, Pinnacle’s proficiency in handling the storage and disposal of environmentally hazardous materials is a growing concern and necessity in the industries they serve.”
Joby said, “Our partnership with TBC will allow us to pursue our strategic growth initiatives and ensure that we will continue to meet the high expectations of our current and future clients.” Jason added, “We look forward to working with TBC as we believe they are the best partner to help us achieve our growth aspirations.”
The transaction closed on February 14, 2018. Terms of the transaction were not disclosed.
About Allegiance Capital
Allegiance Capital is an M&A investment bank that has been providing expert financial services to mid-sized, privately held companies since 1998. Our specialty is representing privately-owned companies with annual revenues between $20 million and $500 million. Our clients are business owners, partners, families and entrepreneurs who want to sell their company, transition to new management, or bring on a financial partner to grow their business.
Allegiance Capital has offices in Dallas, Chicago, and New York. Our investment bankers are entrepreneurs who understand the challenges of running their own business and can explain Wall Street complexity in Main Street language. We also offer global reach through our membership in Globalscope Partners, an organization of international M&A Advisors.
For more information, visit www.allcapcorp.com or give us a call at +1-214-217-7750.