Allegiance Capital Facilitates Acquisition of Hendrix Electric, Inc.
Allegiance Capital Corporation, a Dallas-based private M&A investment bank specializing in the lower middle market, announced today that it has facilitated acquisition of its client Hendrix Electric, Inc. by investors T&D Solutions, a portfolio company of Huntsman Gay Global Capital. Allegiance Capital acted as the exclusive financial advisor to Hendrix Electric, Inc.
Headquartered in Clay, KY, Hendrix Electric is a leading regional provider of power line/electrical installation and maintenance services to industrial, commercial, and utility customers.
“Hendrix Electric is a great addition to T&D Solutions; the acquisition will provide extended geographic coverage in adjacent markets as well as new and complementary services,” said Jeffrey Gross, Vice President at Allegiance Capital Corporation.
Ryan Stratton, Principal at Huntsman Gay added, “Huntsman Gay and T&D Solutions are a great fit as partners to Hendrix Electric, Inc. The partnership will provide opportunities not previous available to the employees of Hendrix to grow and develop inside a strong national company.”
Steve Hendrix will continue to run the day-to-day operations Hendrix Electric with the support from his division vice presidents.
Allegiance Capital Corporation is currently involved in several engagements with other energy providers. To view a list of current deals, visit www.AllCapCorp.com. For information on selling a business, call 214.217.7750.
About Hendrix Electric
Hendrix Electric was founded in 1970 by Darrel Hendrix in Clay, KY. In 1995, Steve Hendrix, Darrel’s son, began working in the family business and Steve and Darrel together began to build the business from 7 employees to over 140 employees today. The company provides a broad range of electrical contracting needs for the commercial, industrial, and utility markets. For more information please see: www.hendrixelectric.com.
About T&D Solutions
T&D Solutions is a utility service company serving numerous investment-owned utilities, municipalities, and electric cooperatives. Services offered include distribution, substation, transmission, and telecommunications. Within each area of operation, T&D Solutions provides services in construction, maintenance, inspection, and emergency storm restoration. For more information please see: www.tdsolutions.com.
About Huntsman Gay
Huntsman Gay Global Capital is a $1.1 billion private equity fund focusing on leveraged buyout, recapitalizations and growth equity transactions in the middle market. With over 150 years of collective deal and operational experience, Huntsman Gay brings best practices from bulge-bracket private equity and global corporations to the middle market. For more information go to: www.hgequity.com.
About Allegiance Capital
Allegiance Capital Corporation is an investment bank specializing in financing and selling businesses in the lower middle market. Allegiance Capital Corporation was recently named third on the list of 2011 Largest Investment Banking Firms in North Texas (Dallas Business Journal). Allegiance Capital Corporation has won multiple awards recognizing the value it delivers to clients. Examples include: 2009 Dealmaker of the Year (Dallas Business Journal), 2008 Boutique Investment Bank of the Year (M&A Advisor), and 2006 Investment Bank of the Year (Dallas Business Journal). Subscribe to the Capital Ideas blog by visiting: www.allcapcorp.com/library/blog. Follow Allegiance Capital Corporation on LinkedIn and Twitter: @ALLCAP.