Description of Transaction
Sequeira Partners was engaged as sell-side advisor to Flint Energy Services on the carve-out of its heavy haul division, Entrec Transportation Services. Sequeira provided advice on valuation, pricing, and due diligence, and assisted in the negotiations to get the sale completed.
W. J. (Bill) Lingard, president and CEO of Flint, said, “It had been determined that the Entrec business was not a core business of Flint and did not feature in Flint’s plans for growth. Flint continues to explore opportunities for growth complementary to its current core competencies.”
The transactions brought to the table the former executives of Eveready Income Fund (purchased in 2008 by Clean Harbors) through their Capital Pool Corporation, EIS. EIS has used Entrec as its platform company and has since purchased two more heavy haul companies to add to its portfolio.