Beta International, Inc. Acquired in a Majority Recapitalization by Corinthian Capital Group, LLC
HOUSTON, Texas (January 20, 2010) — Bill Boyar, Chairman of BoyarMiller, and Blake Royal and Taylor Hayden, Associates in the firm’s Business Group, represented Beta International, Inc. and its shareholders in the sale of capital stock and senior and junior financing arrangements in a recapitalization transaction by Corinthian Capital Group, LLC (Corinthian).
Beta is a worldwide supplier of flow control products to the energy, transmission and infrastructure industries. In addition, Beta is recognized in the energy industry for its project management capabilities. The Company is headquartered in Houston, Texas with offices in The Netherlands, Mexico, Indonesia and Singapore.
Corinthian, founded in 2005, is currently investing a $314 million fund and has acquired six platform companies. Corinthian is headquartered in New York, New York with offices in Chicago, Illinois. Corinthian invests in unique niche manufacturing, distribution, and service businesses with EBITDA of between $5 million and $30 million, located primarily in North America. The principals have over 80 years of combined private equity experience and have completed over 60 acquisitions in the middle market, with a combined total value of over approximately $1.8 billion.
GulfStar Group served as exclusive financial advisor to Beta throughout the transaction. GulfStar Managing Director Tom Hargrove led the deal team on the transaction.
GulfStar Group is a leading middle-market investment and merchant bank headquartered in Houston, Texas. The firm specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, restructuring and turnaround advisory services and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 425 assignments across a variety of industries. Through its merchant banking affiliate the firm also makes equity and subordinated debt investments and serves as a transaction sponsor for acquisition-oriented growth strategies.