AmerCable Forms Strategic Financial Partnership with Quintana Energy Partners
HOUSTON, TEXAS (June 2007) – AmerCable Incorporated (“AmerCable”), the preeminent global manufacturer of electrical power, control, and instrumentation cables, and precision engineered cable assemblies for harsh operating environments has entered into a strategic financial partnership with Quintana Energy Partners, L.P. (“Quintana”) of Houston, Texas.
AmerCable is the North American market leader in cable solutions for surface and underground mining, marine and offshore oil & gas drilling, and specialized industrial sectors where safety is paramount and equipment uptime critical. The company utilizes a customer-driven, solutions-based sales approach to help customers generate higher productivity, provide safer working environments, and lower their total cost of ownership. AmerCable’s focus on operations excellence is reflected in its industry-best lead times and exceptional on-time delivery rates.
Robert F. (Bob) Hogan, Jr., CEO and President of AmerCable, commented, “Quintana is a strategically significant partner for us; their global expertise and contacts in the oil & gas and mining markets are unsurpassed.”
Hogan continued, “We’re #1 in our domestic markets. Our global footprint has increased exponentially as worldwide demand for energy production and investment in electrical infrastructure expand at unprecedented rates, fueling our rapid international sales growth. Quintana is an aggressive, growth-focused financial partner that understands global energy markets and supports our expanding capital requirements – including acquisition opportunities. We are excited to partner with the Quintana team, who share our vision to become the dominant global leader in providing cable and cable assembly solutions to industries operating in the complex and harsh, rugged environments found in our core end-markets.”
Quintana has considerable investment experience and established relationships with energy-related companies. Corbin J. Robertson III, Managing Director of Quintana, says the new relationship with AmerCable is a great fit for their investment portfolio. 'Quintana has a 70-year history of successful investment across the coal and oil & gas sectors. Our worldwide relationships and energy leadership, in combination with the excellent AmerCable management team, will create tremendous value for customers, employees and shareholders.'
AmerCable’s Tiger® Brand mining cables, the industry’s number one brand, power electrical mining equipment for surface/open-cut, longwall, and room and pillar mines. AmerCable’s oil & gas cables are the industry’s standard for flexible, high performance cables, which is reflected in primary supplier contracts for many high profile offshore rig projects around the world. AmerCable is also active in industrial and alternative energy markets, providing cable for solar and power generation projects.
George Dethlefsen, Senior Associate of Quintana, commented that AmerCable is a great match for the Quintana portfolio. “AmerCable has an unparalleled reputation for quality in oil & gas and coal circles, and is the leader in providing cables to harsh-environment, mission-critical operations. We are excited to partner with management to grow the business and provide packaged solutions to these end markets.”
AmerCable’s current senior management team purchased the company in 2002. Under their leadership, AmerCable has experienced unprecedented growth highlighted by record sales and profits for four consecutive years.
AmerCable’s 535,000 square foot manufacturing facility is located in El Dorado, Arkansas. AmerCable’s Oil & Gas business unit headquarters, along with a state-of-the-art connector assembly operation and distribution facility, is based in Houston, Texas. AmerCable also operates distribution facilities in Singapore and Dalian, China.
Certain statements in this press release include statements that may constitute 'forward-looking' statements, usually containing the words 'believe,' 'estimate,' 'project,' 'expect,' 'plan,' 'should' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
Contact for AmerCable Incorporated: Chad E. Archer Chief Financial Officer 713-896-5800 www.amercable.com
Contact for Quintana Capital Group, L.P.: Loren Soetenga Chief Operating Officer 713-751-7527
