Matrix Capital Announces the Successful Sale of ASAP Industries, LLC
RICHMOND, VA – January 13, 2009 – Matrix Capital Markets Group, Inc. announced today the sale of ASAP Industries, LLC to an investor group led by Hudson Ferry Capital, LLC and the company’s existing management team. ASAP Industries, based in Houma, Louisiana, is an American Petroleum Institute certified company that manufactures and refurbishes equipment used in the drilling and production of oil and natural gas. Matrix served as exclusive financial advisor to ASAP Industries on the transaction.
“I believe that without Matrix’s expertise, there would have been no way to get this transaction done in the market we were contending with, especially given our tight deadline of a year-end closing. The end result was a win-win for both ASAP and Hudson Ferry,” said Timmy Deroche, CEO of ASAP Industries. “Thanks to all the guys at Matrix, but a special thanks to Bill Kerkam, Jeff Moore and Bruce Smith for all of their hard work. They were tireless in their efforts to ensure we were well represented and provided us with sound advice throughout the entire process.”
“ASAP Industries is a unique company with special capabilities and relationships. We see numerous avenues for growth in the years ahead,” said Bruce Robertson, Partner of Hudson Ferry.
The Matrix team was led by Jeff Moore, Managing Director and Bill Kerkam, Vice President. “Under the guidance of a strong financial partner like Hudson Ferry, Timmy Deroche and his management team are now able to pursue more aggressive growth strategies and further broaden their product channels,” commented Kerkam. “We are all very pleased with the results of this transaction, particularly given the volatility in the commodities and credit markets.”
About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.
Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.