Precision Pipeline Solutions
In 2008 Precision Pipeline Solutions met with BCMS Corporate after the company had received interest from a seemingly well motivated industry competitor. The relationship between this potential acquirer and PPS was very positive and so the firm chose BCMS Corporate’s Negotiation Only service to help with the management of the transaction. However, with a low offer, a lack of strategic motivation and sale terms which favored the acquirer, it quickly became apparent to the BCMS team that they could achieve a much stronger offer by generating some sound competition.
At this point the BCMS Corporate team took PPS to a wider market, adding strategic prospects and utilizing a strong relationship with the VC and private equity community. In all, PPS received a tremendous response from the market with nearly a dozen companies engaging in formal negotiations. The private equity community took a keen interest in PPS, with Sentinel Capital Partners eventually providing the optimal combination of transactional value and managerial support.
“The energy infrastructure in the United States, particularly in older cities, such as those in the Northeast, where PPS operates, has a continuing need for the services provided by PPS,” said Michael Fabian, a Vice President at Sentinel. “We believe this is a promising market in which to invest, and PPS is particularly well positioned for growth.”
“We take great pride in the critical services we provide for our utility clients,” said Jon Selander, founder and CEO of Precision Pipeline Solutions. “There is considerable demand for service providers like PPS that approach utilities with a partnership philosophy and a broad portfolio of services. The Sentinel team has a reputation for helping service businesses become stronger competitors, and we believe their support will help us continue to grow our business.”
“All of us at Sentinel are excited to partner with PPS’s management team,” added Eric Bommer, a partner at Sentinel. “Not only are Jon and his team highly skilled and experienced, but they possess an outstanding reputation with utilities throughout the Northeast. We are eager to help them build on this foundation and expand PPS’s presence.”
About Precision Pipeline Solutions
Headquartered in Newburgh, NY, Precision Pipeline Solutions is a valued partner of its utility clients. PPS’s technically qualified personnel provide a broad range of services, including inspecting, repairing, replacing, and maintaining natural gas and electric transmission, distribution, and generation systems, as well as providing specialized consulting and auditing services. For additional information, please visit www.precisionpipelinesolutions.com.
About Sentinel Capital Partners
Sentinel Capital Partners is a private equity firm that specializes in buying and building smaller middle market companies in the US and Canada in partnership with management. Sentinel targets consumer products, food and restaurants, franchising, manufacturing, and service businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going private transactions of established businesses with EBITDA of between $5 million and $25 million. More information about Sentinel can be found on the firm’s website at www.sentinelpartners.com.
