BIRMINGHAM, Ala. (April 2, 2015) – The Principals of Founders Investment Banking, LLC announce the sale of Timco Services, Inc. (Timco), a leading provider of tubular running services and rental equipment, to Frank’s International N.V. – NYSE: FI (Frank’s). Timco and Frank’s entered into a definitive purchase agreement on March 12, 2015 and the transaction closed on April 1, 2015. The transaction was led by Duane P. Donner II and Joe H. Brady III of Founders’ Oil & Gas Services Group.
Timco is headquartered in Lafayette, LA and is a premium provider of tubing and casing services in several key geographic areas, including the Eagle Ford Shale, the Permian’s Delaware Basin, the Haynesville Shale and the U.S. Gulf Coast. Timco has experienced consistent growth over the course of its 38 year history, and accelerated growth in more recent years to due to capitalizing on the U.S. shale boom.
Mark Guidry, President of Timco, stated “By joining forces with Frank’s International and gaining access to its proprietary technology, we will significantly improve our quality and breadth of services to our clients. Additionally, Frank’s International represents an excellent new home for Timco’s highly skilled and experienced employees.” Mark Guidry will stay on with Frank’s and serve as Vice President of Frank’s South Texas operations.
Simmons & Company International acted as Frank’s financial advisor in the transaction.
About Founders Investment Banking, LLC
Founders Investment Banking is a merger and acquisition advisory firm based in Birmingham, Alabama. Its team’s proven expertise and process-based solutions help companies and business owners access capital and prepare for and execute liquidity events to achieve specific financial goals. The firm’s practice areas include a General Transaction Practice, which serves clients from various industries located in the Deep South, an Oil and Gas Services Practice focused on the U.S. oilfield services sector, and an Internet & Digital Media Practice that serves clients operating nationwide in the Internet and digital media sector. For more information, visit www.foundersib.com. In order to assist Founders Investment Banking with securities related transactions, including this transaction, its Principals are registered investment banking agents of M&A Securities Group, Inc., member FINRA/SiPC. M&A Securities and Founders are not affiliated entities. The testimonial presented herein does not guarantee future performance or success.
About Frank’s International
Frank’s International N.V. is a global oil services company that provides a broad and comprehensive range of highly engineered tubular services to leading exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Founded in 1938, Frank’s has over 4,500 employees and provides services in approximately 60 countries on six continents. The Company’s common stock is traded on the NYSE under the symbol “FI.” Additional information is available on the Company’s web site, www.franksinternational.com.