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Laney Directional Drilling Co., the world's largest independent horizontal directional drilling (HDD) company serving the oil and gas pipeline industry, has been acquired by an affiliate of Maxim Partners, LLC and Falcon Investment Advisors, LLC.

海角吃瓜网淟aney is pleased to announce this acquisition, which represents a great opportunity for both our employees and the company to continue driving growth and offer best in class service to our customers.海角吃瓜网� Laney Chief Executive Officer Kevin Fox said. 海角吃瓜网淲e look forward to partnering with Maxim and Falcon to significantly increase our portfolio of HDD capabilities as well as extend the Company海角吃瓜网檚 geographic reach.海角吃瓜网�

Founded in 1989, Laney is the only HDD company in North America providing integrated engineering, design and construction services. For more than 25 years, the Company has specialised in providing HDD services that address the most complex crossing needs of customers in the global energy, telecommunications and infrastructure markets

海角吃瓜网淢axim and Falcon are excited to partner with existing management to support the Company海角吃瓜网檚 strategic vision of becoming North America海角吃瓜网檚 preferred supplier of HDD services for energy infrastructure,海角吃瓜网� said Ryan Franco, a Managing Partner at Maxim. 海角吃瓜网淚n addition to providing financial sponsorship, we are placing accomplished pipeline industry veterans onto Laney海角吃瓜网檚 board including Rick Turner, an Energy Industry Partner for Maxim, Ron Page and David Lytle. These individuals have achieved marked success through their associations with Energy TransferEntities, Red Cedar Gathering, PVR Partners, El Paso Corporation, Boardwalk Pipeline Partners, Saddle Butte Pipeline, and Koch Industries and will supply strategic counsel to the Company as it enters its next phase of corporate development.海角吃瓜网澛�

Ryan added, 海角吃瓜网淟aney was acquired through Maxim海角吃瓜网檚 new energy partnership with Falcon and demonstrates our unique ability to provide turn-key subordinated debt, preferred equity and common equity required to close a substantial change-of-control transaction.海角吃瓜网�

Laney was previously owned by a private equity consortium comprised of Chart Capital Partners, Prudential Capital Partners, Quilvest USA and Basic Materials and Services LLC. 海角吃瓜网淲e are very proud of the accomplishments of Laney海角吃瓜网檚 management team and employees,海角吃瓜网� said David Collier, Managing Director at Chart Capital. "Our group acquired a well-run family business and worked closely with a great management team to transform the company into a world-class HDD firm. We are pleased to deliver a company that is stronger in every way. The partnershipwith Maxim and Falcon will provide for Laney's continued growth and success.海角吃瓜网� Chart and its co-investors will maintain a minority ownership position alongside Maxim and Falcon.

Stifel served as exclusive financial advisor and Moore & Van Allen PLLC served as legal counsel to Laney. Andrews Kurth LLP and Latham & Watkins LLP served as legal advisors to Maxim and Falcon, respectively.

Adapted from press release by

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