NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Automotive?src=hash” target=”_blank”gt;#Automotivelt;/agt;–Stellex
Capital Management LP (“Stellex”), an investment firm with offices
in New York and London, announced today that it has completed its
investment in Cisco
Equipment (“Cisco” or the “Company”) in partnership with Christopher
J. “C.J.” Sibert and management. Terms of the transaction, which closed
on February 1, were not disclosed.
Cisco was founded by Scott Sibert in 1978 and has grown over the last
four decades to become one of nation’s leading providers of equipment,
services, parts and supplies to the midstream infrastructure, general
construction, agriculture and general industrial markets. The Company’s
specialized service capabilities, diverse and versatile suite of
equipment for rent or sale and strategic footprint are integral to its
customers’ exacting operating requirements. Cisco is recognized for its
project services, maintenance and repair solutions, technical expertise,
operational flexibility and unparalleled customer service.
Based in Odessa, Texas, the Company operates four facilities
strategically located near major customer hubs. Cisco’s highly trained,
seasoned team of technicians, mechanics and salespeople support more
than 200 customers, including some of the world’s most sophisticated
engineering, construction and project management companies, many of
which it has served since inception. The Company’s customer-centric
approach has allowed it to serve customers across geographies and in
multiple large-scale, highly-complex projects.
Cisco’s management team, under the leadership of Chief Executive Officer
C.J. Sibert, will continue to lead the business on its current path of
expansion and growth.
“This is an exciting development for Cisco’s customers, OE partners and
more than 100 dedicated associates,” said C.J. Sibert. “With the support
of Stellex, Cisco will redouble our dedication to providing our
customers with exceptional service, reliability and quality. We are very
excited about our partnership with Stellex and our shared vision for
Ray Whiteman, a Managing Partner of Stellex, added, “Cisco is optimally
positioned for continued growth. We look forward to working closely with
Cisco’s accomplished management team to support their expansion in
serving the Company’s loyal customer base.”
Debt financing was arranged and provided by CIT Bank, N.A. Oppenheimer &
Co. Inc. acted as exclusive financial advisor to Stellex on the
transaction and Milbank, Tweed, Hadley & McCloy LLP and K&L Gates LLP
acted as counsel. Deloitte Corporate Finance LLC and Davis, Gerald &
Cremer, PC represented Cisco. Syntal Capital Partners and Todd, Barron,
Thomason, Hudman & Bebout, P.C. advised the Sibert family.
ABOUT CISCO INDUSTRIAL SERVICES
Cisco Industrial Services LLC (“Cisco”) is a leading provider of
equipment, services, parts and supplies to the midstream infrastructure,
general construction, agriculture and general industrial markets. Based
in Odessa, Texas, Cisco has been providing industry leading sales,
rental and service of industrial equipment since 1978. The Company is
widely respected for providing quality and innovative solutions while
being sensitive and responsive to customers’ service needs. For more
information, please visit https://www.cisco-equipment.com/.
ABOUT STELLEX CAPITAL MANAGEMENT
Stellex Capital is a private equity manager that invests in U.S. and
European corporate assets. Stellex seeks to identify and deploy capital
in opportunities that have the potential to provide stability,
improvement and growth. For more information, please visit https://www.stellexcapital.com/.