Regal Beloit Corp.’s recent acquisition of Hy-Bon Engineering Co., a portfolio company of Pfingsten Partners LLC, marks another successful oil and gas transaction for Baird, an employee-owned, international financial services firm.
Hy-Bon is an industry leader in providing vent gas management solutions for oil and gas customers, including vapor recovery units that capture and monetize valuable gas streams that include harmful volatile organic compounds (VOCs) and greenhouse gas emissions.
Baird acted as the exclusive financial advisor to Hy-Bon on the transaction. Terms of the deal were not disclosed.
“As the U.S. expands its energy production, there is a need to implement products and services that capture and ideally, reuse the gases that are discharged as a part of this production and related storage,” said Joe Packee, managing director and leader of Baird’s deal team. “With an increased focus on the economic benefits and the environmental and safety matters surrounding our country’s growing oil production capabilities, solutions provided by Hy-Bon are of great importance.”
The transaction underscores Baird’s track record in the oil and gas sector in both the United States and Europe. Recent sector deals include Stream AS sale to MRC Global; Engineered Controls International LLC sale to Windjammer Capital Investors and CITIC Capital Partners; Vector Technology Group sale to Freudenberg Group; and PMC Group AB’s Norwegian subsidiary, Servi, to Ferd, among others. Additionally, from 2011 to 2013, Baird has closed or announced more than 30 oil and gas merger and acquisition assignments, representing approximately $10 billion in deal value.