Prior Investment-FUND II
Acquisition date: October 16, 2006
Disposition date: December 31, 2011
Provider of pipeline and facilities construction and maintenance services for customers building natural gas infrastructure
Based in Gillette, Wyoming, Hettinger Welding, LLC ("Hettinger") was well-positioned to benefit from the rapid expansion of gas exploration and production throughout the Rocky Mountain region.
Structured as an asset purchase, Clearview’s investment allowed the company founder to diversify his net worth while reinvesting a significant equity stake in the newly formed entity. Hettinger’s core management team also contributed a substantial portion of their sale proceeds into the new entity because of their strong belief in the continued growth of the company and the industry.
Clearview was chosen as the right investment partner because of our ability to provide financial guidance and strategic support to this operationally talented team. Management felt Clearview was the right choice to take the company to the next level.
The transaction closed on October 16, 2006. Clearview invested equity from Clearview Capital Fund II, L.P. Senior debt was provided by LaSalle Business Credit and mezzanine financing by Hartford Investment Management.
Hettinger was exited in 2011 in a controlled liquidation.
Add-on Acquisitions Completed:
Eagle Excavation, Inc.
Provider of commercial excavation services to exploration and production, and midstream oil and gas companies in the Powder River Basin of Wyoming
Dakota Line Contractors, LLC
Provider of horizontal directional drilling services for a variety of industries including pipeline installation in the oil and gas industry, and installation of rural water, telecom and cable lines for utility companies
Mayo Industries, Inc.
Regional leader in custom construction, manufacturing and engineering design services for the natural gas industry