Corporate Finance Associates (CFA) announced it initiated and acted as exclusive financial advisor to Bronco Manufacturing, Inc. (Bronco) in the recent recapitalization of the Tulsa, Oklahoma based company. Bronco, a manufacturer of replacement parts for drilling, workover, and well servicing rigs has joined with Crystal Ridge Partners (CRP), a private equity group. CFA's long-term energy industry relationships and the inside industry knowledge played a key role in satisfying buyer and seller objectives.
Los Angeles, CA (PRWEB) April 21, 2008 -- Corporate Finance Associates (CFA) a leading middle-market mergers and acquisitions firm, announced that it served as financial advisor to Bronco Manufacturing, Inc. (Bronco) in the recent recapitalization of the Tulsa, Oklahoma based company. Bronco, a manufacturer of replacement parts for drilling, workover, and well servicing rigs has joined with Crystal Ridge Partners (CRP), a private equity group.
CFA helped Bronco founders, Max Mantooth and Bruce Ricks, find a terrific partner by tapping into several decades of in-depth industry specific knowledge and experience. "I am particularly pleased that through our comprehensive search and screening process we were able to find a highly qualified and 'compatible' partner for Bronco and at a very competitive price," said S. Lee Crawley, Managing Director of CFA's Tulsa Office.
Corporate Finance Associates CEO, Peter Heydenrych commented, "This project highlights CFA's belief that the only way to achieve superior results is to fully commit senior principals to the project from inception to completion, ensuring that maximum benefit is derived from the greater insights which experience provides."
Founded in 1980, Bronco (www.broncomfg.com) manufactures and supplies approximately 80,000 replacement parts and supports a wide range of rig OEMs. It specializes in products located in the drawworks, mud pumps, and rotary tables. Bronco's customers are composed of private and nationally owned drilling companies, repair centers, drilling contractors, and supply stores located primarily outside the United States. Bronco, in partnership with Crystal Ridge Partners, will seek add-on acquisitions and investment opportunities in companies that manufacture complementary products and offer access to new customers and markets.
In addition to investing in Bronco, Crystal Ridge Partners (www.crystalridgepartners.com) of Princeton, New Jersey, is an investor in lower-middle-market companies primarily in the eastern half of the United States. Since its launch in 2005, CRP has focused on management buyouts and recapitalizations and has invested in six companies to date. Prior to founding CRP, the firm's four investment professionals successfully completed over 60 private equity transactions.
About Corporate Finance Associates
Corporate Finance Associates is a major investment banking services firm, with over 30 offices across North America providing middle-market companies with a wide range of financial advisory services and access to capital resources. From project inception to completion a senior principal guides clients through every challenge, advocates on their behalf, and leverages CFA's experience and extensive resources.
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