In 2008 Precision Pipeline Solutions (PPS) met with BCMS after the company had received interest from a seemingly well motivated industry competitor. The relationship between this potential buyer and PPS was very positive and so the firm chose BCMS's Negotiation Only service to help with the management of the transaction. However, it quickly became apparent to the BCMS team that they could achieve a a much stronger offer by generating some sound competition.
At this point the BCMS team took PPS to a wider market, adding strategic prospects and utilizing a strong relationship with the VC and private equity community. In all, PPS received a tremendous response from the market with a number of companies engaging in formal negotiations.
The private equity community took a keen interest in PPS, with Sentinel Capital Partners eventually providing the optimal combination of transactional value and managerial support.
“The energy infrastructure in the United States, particularly in older cities, such as those in the Northeast, where PPS operates, has a continuing need for the services provided by PPS,” said Michael Fabian, a Vice President at Sentinel. “We believe this is a promising market in which to invest, and PPS is particularly well positioned for growth.”
“We take great pride in the critical services we provide for our utility clients,” said Jon Selander, founder and CEO of Precision Pipeline Solutions.
“There is considerable demand for service providers like PPS that approach utilities with a partnership philosophy and a broad portfolio of services. The Sentinel team has a reputation for helping service businesses become stronger competitors, and we believe their support will help us continue to grow our business.”
“All of us at Sentinel are excited to partner with PPS’s management team,” added Eric Bommer, a partner at Sentinel. “Not only are Jon and his team highly skilled and experienced, but they possess an outstanding reputation with utilities throughout the Northeast. We are eager to help them build on this foundation and expand PPS’s presence.”