COSTA MESA, Calif., July 28, 2005 (PRIMEZONE) -- An undisclosed Canadian buyout group has acquired Can-Con Gas Service Ltd., of Edmonton, Alberta. Transaction terms were not disclosed.
RSM EquiCo Capital Markets, the broker-dealer subsidiary of RSM EquiCo Inc., initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Can-Con.
"Can-Con sought to align itself with a buyer that could benefit from its well-established customer relationships and additional resources. This acquisition will support the buyout group's growing distribution in Canada and serve as the foundation for expansion within the United States," said Randy Krauthamer, managing director for RSM EquiCo Capital Markets.
About RSM EquiCo Inc.
RSM EquiCo is a global provider of investment banking services to private companies with annual revenues of up to $500 million. We bring together companies, capital and creativity on a national and international scale to help our clients achieve their personal and strategic objectives. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.
About Can-Con Gas Service, Ltd.
Founded in 1974, Can-Con manufactures and distributes fittings for oil and gas transport pipelines, specializing in plastic and steel transitions, risers and couplings. Primary customers include oil companies, oil and gas exploration and drilling companies, utilities, energy co-operatives, engineering firms, and contractors. Can-Con, with 17 employees, operates from a single combined office, warehouse and manufacturing facility. The company maintains a base of over 450 customers throughout western Canada, with occasional sales in eastern Canada and the U.S. Although primarily a stocking distributor, the company also manufactures custom fittings, which has represented a growing aspect of the business.
About the Buyout Group
The buyout group that acquired Can-Con has extensive experience in the distribution of a wide range of industrial products throughout Canada. The buyout group collectively has served clients in various industries, including oil and gas, mining, construction, forestry, and transportation.