Infinity Capital Partners Advises Hooten Equipment Company in Strategic Transaction with Nwestco
OKLAHOMA CITY, OK (October 30, 2019) - Hooten Equipment Company, LC (Hooten), a Springdale, AR-based company that distributes, installs, and repairs fueling station equipment has been acquired by Nwestco, LLC (Nwestco), a portfolio company of WestView Capital Partners (WestView), a Boston, MA-based private equity firm.
Founded in 1968, Hooten has evolved into a full-service value-added distributor in the petroleum equipment distribution industry covering the NW Arkansas and SW Missouri territories. “We are proud to add Hooten to the Nwestco platform,” said Tim Gibbar, CEO of Nwestco, “Their long history and reputation for high quality service, both inside and outside of their distributorship footprint, makes for a complementary addition to our company, as well as an opportunity to continue expanding our geographic footprint.”
Nwestco was purchased by WestView Capital Partners in June 2017 and has since performed acquisitions and built out technician infrastructure and added new capabilities and service offerings in order to bolster the company’s turnkey offering to its customers. With the acquisition of Hooten, WestView is further executing on its strategic plan to expand into new territories. “We view this acquisition as helpful to our objective to grow our footprint and our customer base,” said Carlo von Schroeter, Managing Partner at WestView and Nwestco Board Member, “We are excited about the depth of experience and expertise of Hooten’s leadership, and we believe they will make a strong addition to Nwestco’s already strong management team.”
Said Martin Smith, former part-owner of Hooten, “I’m proud of the work Lyndell and his son, Derek, have done over the past 20 years. They have always treated customers, employees, and vendors the right way, which has put Hooten in a position to be an attractive partner for a great company like Nwestco.”
Infinity Capital Partners served as investment banking adviser and McAfee Taft served as legal adviser to Hooten Equipment Company. Latham & Watkins served as legal adviser to Nwestco.
About Nwestco
Nwestco is a leading equipment distributor, installer and maintenance provider to retail fuel stations and car washes in the Pacific Northwest and Rocky Mountain regions. The Company provides a one-stop solution for its customers’ equipment and service needs, offering a comprehensive product portfolio and delivering high quality installation and ongoing maintenance services. Nwestco is based in Denver, Colorado and operates five additional branches across Montana, Washington, Oregon and Idaho. Additional information can be found by visiting www.nwestco.com.
About WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $60 million. For more information, please visit www.wvcapital.com.
About Infinity Capital Partners
Infinity Capital Partners is an Oklahoma City-based middle-market investment bank offering a broad range of advisory services to private companies and financial sponsors across a variety of industries. Infinity works closely with owner-operators, shareholders, founders, and management teams of private companies to provide tailored services including M&A advisory, debt and equity placements, recapitalizations, and strategic advisory. For more information about Infinity Capital Partners please visit our website at www.infinitycapitalpartners.com. Securities placed through Infinity Capital Securities, LLC. Member FINRA.
Media contact:
Claire Ashworth
Infinity Capital Partners
(405) 400-8977 | cashworth@infinitycappartners.com