September 2014, Vol. 69, No. 9
Newsline
Maxim Partners, Falcon Investment Advisors Procure Laney Directional Drilling
Laney Directional Drilling Company, 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.
“Laney 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,” Laney CEO Kevin Fox said. “We look forward to partnering with Maxim and Falcon to significantly increase our portfolio of HDD capabilities as well as extend the company’s geographic reach.”
Founded in 1989 and located in Spring, TX, Laney is the only HDD company in North America providing integrated engineering, design and construction services. For more than 25 years, the company has specialized in providing HDD services that address the most complex crossing needs of customers in the global energy, telecommunications and infrastructure markets.
“Maxim and Falcon are excited to partner with existing management to support the company’s strategic vision of becoming North America’s preferred supplier of HDD services for energy infrastructure,” said Ryan Franco, a managing partner at Maxim. “In addition to providing financial sponsorship, we are placing accomplished pipeline industry veterans onto Laney’s board including Rick Turner, and energy industry partner for Maxim, and Ron Page and David Lytle.”
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.
“We are very proud of the accomplishments of Laney’s management team and employees,” said David Collier, managing director of 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 partnership with Maxim and Falcon will provide for Laney’s continued growth and success.”
Chart and its co-investors will maintain a minority ownership position alongside Maxim and Falcon.
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