Allegiance Capital represented Fiberod, an oil and gas recovery company, in their sale to John Crane. Fiberod manufactures fiberglass sucker rods which, unlike steel rods, stretch, use less energy, and are noncorrosive. Our intensive buyer research and thorough marketing sourced an international buyer who was willing to pay a premium price for Fiberod’s proprietary technology and a North American foothold. Our competitive auction process resulted in selling Fiberod for 10 times EBITDA, twice the industry standard.
“Our employees had become more or less family. Taking care of them was a critical factor in who we sold the company to. We interviewed several companies but Allegiance Capital stood out head and shoulders from everyone else we talked to. Words don’t describe how happy I was with the outcome of the transaction.”
-Russ Rutledge, Founder of Fiberod
“We set high standards for your team because we believed the Company’s value proposition deserved a significant premium. Allegiance Capital delivered a transaction that exceeded even our highest expectations and provided outstanding rewards for our shareholders and employees. Your team was informative, professional and diligent from start to finish and not only helped us complete the transaction but also helped us to build a relationship with our new parent company.”
– John Erazim, President, and Russ Rutledge, CEO, Fiberod