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Stormont Energy Advisors Corp. is pleased to announce the following successful transaction in the Industrial Maintenance Services market segment.

In January, 2018 Blackstone Industrial Services (Blackstone), a leading critical rotating equipment services provider closed its acquisition of Nuovo Parts Inc. (Nuovo Parts), a North American distributor and authorized service and sales channel of Baker Hughes, (a GE company).
  
Over 15+ years, Blackstone has built a solid reputation as a Canadian-based equipment service firm focused on critical infrastructure for food production, oil and gas, petrochemicals and energy infrastructure. The company primarily provides consulting and service on rotating equipment for major maintenance and turnaround projects at large facilities across Canada.
 
The acquisition of Nuovo Parts allows Blackstone to leverage its existing relationship with BHGE Turbomachinery Process Solutions (formerly GE Oil & Gas), and Nuovo Parts’ ground-level customer service, to provide a new level of integrated services and solutions to their customers. This transaction provided the selling shareholders with a liquidity event as well as a strategic partner to help execute the company’s future growth plans.
 
Stormont acted as the exclusive financial advisor to Blackstone’s shareholders, in
the following capacity:
 

  • Developed an acquisition strategy and financing options with Blackstone
  • Negotiated commercial terms with the sellers advisor
  • Raised capital to facilitate the acquisition, negotiating commercial terms with the
    lender (Integrated Asset Management Corp.)
  • Managed the due diligence process
  • Closed the acquisition of Nuovo Parts

 
Learn more about this transaction here »


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