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Laney Directional Drilling Co., the world's largest independent horizontal directional drilling (HDD) company serving the oil and gas pipeline industry, has been acquired by an affiliate of Maxim Partners, LLC and Falcon Investment Advisors, LLC.

黑料社淟aney is pleased to announce this acquisition, which represents a great opportunity for both our employees and the company to continue driving growth and offer best in class service to our customers.黑料社� Laney Chief Executive Officer Kevin Fox said. 黑料社淲e look forward to partnering with Maxim and Falcon to significantly increase our portfolio of HDD capabilities as well as extend the Company黑料社檚 geographic reach.黑料社�

Founded in 1989, Laney is the only HDD company in North America providing integrated engineering, design and construction services. For more than 25 years, the Company has specialised in providing HDD services that address the most complex crossing needs of customers in the global energy, telecommunications and infrastructure markets

黑料社淢axim and Falcon are excited to partner with existing management to support the Company黑料社檚 strategic vision of becoming North America黑料社檚 preferred supplier of HDD services for energy infrastructure,黑料社� said Ryan Franco, a Managing Partner at Maxim. 黑料社淚n addition to providing financial sponsorship, we are placing accomplished pipeline industry veterans onto Laney黑料社檚 board including Rick Turner, an Energy Industry Partner for Maxim, Ron Page and David Lytle. These individuals have achieved marked success through their associations with Energy TransferEntities, Red Cedar Gathering, PVR Partners, El Paso Corporation, Boardwalk Pipeline Partners, Saddle Butte Pipeline, and Koch Industries and will supply strategic counsel to the Company as it enters its next phase of corporate development.黑料社澛�

Ryan added, 黑料社淟aney was acquired through Maxim黑料社檚 new energy partnership with Falcon and demonstrates our unique ability to provide turn-key subordinated debt, preferred equity and common equity required to close a substantial change-of-control transaction.黑料社�

Laney was previously owned by a private equity consortium comprised of Chart Capital Partners, Prudential Capital Partners, Quilvest USA and Basic Materials and Services LLC. 黑料社淲e are very proud of the accomplishments of Laney黑料社檚 management team and employees,黑料社� said David Collier, Managing Director at Chart Capital. "Our group acquired a well-run family business and worked closely with a great management team to transform the company into a world-class HDD firm. We are pleased to deliver a company that is stronger in every way. The partnershipwith Maxim and Falcon will provide for Laney's continued growth and success.黑料社� Chart and its co-investors will maintain a minority ownership position alongside Maxim and Falcon.

Stifel served as exclusive financial advisor and Moore & Van Allen PLLC served as legal counsel to Laney. Andrews Kurth LLP and Latham & Watkins LLP served as legal advisors to Maxim and Falcon, respectively.

Adapted from press release by

Read the article online at: /business-news/12082014/laney-announces-sale-to-maxim-and-falcon/