Hammond, Kennedy, Whitney & Company has acquired Specialized Tech, a provider of sand recovery services to the oil and gas industry.
Specialized Tech (STI) provides high pressure sand recovery services to exploration and production customers in the oil and gas industry. The company was founded in 2001 and is headquartered in Calgary, Alberta (www.specializedtech.ca).
“We are pleased to have HKW as a partner as we move towards continued growth and innovation at STI. HKW’s experience in our industry is sure to add value and we look forward to growing the business together,” said Chris Hemstock, President of STI.
Hammond, Kennedy, Whitney & Company invests in companies with revenues between $20 million and $200 million and EBITDAs between $2 million and $20 million. Over the past 29 years, HKW has completed 44 platform management buyouts of small middle-market companies throughout North America as well as 46 add-on acquisitions. The firm is headquartered in Indianapolis with an additional office in New York (www.hkwinc.com).
“We are very excited about the partnership with Chris Hemstock and the rest of the management team at STI,” said Luke Phenicie, HKW Partner. “Through innovation and development they have carved out a nice niche in a growing industry.”
STI was represented exclusively by investment bank Canaccord Genuity (www.canaccordgenuity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-18-13
