Baird Advises Hy-Bon Engineering on Sale to Regal Beloit Corporation
Transaction underscores Baird's strong track record in the oil & gas sector
Milwaukee, Feb. 11, 2014
Today’s announcement that Hy-Bon Engineering Company (“Hy-Bon”), a portfolio company of Pfingsten Partners L.L.C., has been acquired by Regal Beloit Corporation (RBC) marks another successful oil & 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 & 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.
Baird’s deal team was led by Joe Packee, Managing Director, who said, “As the U.S. expands its energy production, there is a need to implement products and services that capture – and ideally, re-use – the gases that are discharged as a part of this production and related storage. 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 strong track record in the oil & gas sector in both the U.S. 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 over 30 oil & gas M&A assignments, representing approximately $10 billion in deal value.
About Baird’s Investment Banking Group
Recognized as the 2011 “Investment Banking Firm of the Year” by The M&A Advisor, Baird is a leading global investment bank focused on the middle market. Approximately 250 investment banking professionals in the U.S., Europe and Asia provide corporations, entrepreneurs, private equity and venture capital firms with in-depth market knowledge and extensive experience in merger and acquisition and equity financing transactions. Since 2009, Baird has advised on 272 M&A transactions representing approximately $63 billion in transaction value and has served as lead or co-manager on 387 equity offerings raising approximately $112 billion. Baird has received “Deal of the Year” recognitions from The M&A Advisor for nine years running, demonstrating commitment to attaining great outcomes for clients.
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,900 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $100 billion in client assets. Committed to being a great place to work, Baird ranked No. 9 on FORTUNE’s 100 Best Companies to Work For in 2014 – its 11th consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s Web site at www.rwbaird.com.