Trive Capital has recapitalized Circle 8 Crane Services, a provider of operated and maintained crane lifting services to the oil and gas, commercial, and industrial markets.
Circle 8 owns and operates one of the largest fleets of mobile and all terrain cranes in the territories it serves, as well as a fleet of auxiliary vehicles & equipment including high pressure test pumps, rigging trucks, floats, stepdecks, gooseneck trailers, personnel and material baskets. The company was founded in 2007 by brothers, Phillip and Allen Bryson in 2007, and has locations throughout South Texas; West Texas; Houston; East Texas/Louisiana; and Oklahoma. Circle 8 is headquartered in Corpus Christi (www.circle8services.com).
Trive Capital invests from $10 million to $60 million in North America headquartered companies with revenues of $30 million to $500 million. Sectors of interest include automotive & transportation; aerospace & defense; building products; construction & infrastructure; consumer goods; energy services; healthcare; manufacturing and industrials; chemicals; distribution; business & professional services; and communications. The firm was founded in 2012 by Conner Searcy, Managing Partner, and Chris Zugaro, Partner. Trive Capital is based in Dallas (www.trivecapital.com).
Founders Investment Banking, with offices in Birmingham, AL and Irving, TX (www.foundersib.com) was the financial advisor to Circle 8 Crane Services on this transaction. Duane Donner, Managing Partner, and Joe Brady, Director, led the deal team for Founders.
“On behalf of our employees, shareholders, and the Bryson family, we are excited to have a new partner in Trive Capital. Founders’ knowledge and experience in our sector was crucial in helping us to source and select the right partner to support the growth of Circle 8. The team did an outstanding job negotiating the deal, leading us throughout the process and getting the transaction closed,” said Phillip Bryson. “We found the right solution and partner and we are excited about the future for Circle 8 as this recapitalization provides the company with additional capital to fuel future growth.”
© 2017 Private Equity Professional | February 10, 2017