Energy Alloys Announces Equity Investment from GSO Capital Partners LP, a division of The Blackstone Group
HOUSTON, USA and ROTHERHAM, UK (Nov. 1, 2011) – Energy Alloys L.L.C., a global provider of oilfield metals, services and solutions, announced today that funds managed by GSO Capital Partners LP (“GSO”), a division of the Blackstone Group L.P. (“Blackstone”) have invested equity capital in Energy Alloys to support its growth strategy. The company’s strategy will continue to be executed by its current management team.
“I am pleased to announce GSO’s commitment to Energy Alloys,” said Dave Warren, President, CEO and Founder of Energy Alloys. “GSO is a top tier energy investor, and we look forward to having them as a partner. This equity commitment provides a capital structure to pursue growth opportunities, gain advantage in the market, expand value-added services and support our customer’s global demands. I am excited about entering this next phase of our company’s growth strategy as we move forward with our customer-focused vision, our talented management team, and increased capacity and capabilities that this additional investment capital will support.”
“We are delighted to have the opportunity to invest in Energy Alloys,” stated Dwight Scott, Senior Managing Director of GSO. “Energy Alloys plays a unique role as a supply chain partner in a growing market, and we support the management team’s vision to be customer-focused, creative and entrepreneurial.”
Upon closing of the transaction, GSO will join the Board of Directors. Dave Warren will remain President and CEO as well as Chairman of the Board.
Andrews Kurth LLP and Fulbright & Jaworski LLP served as legal counsel to Energy Alloys. Latham & Watkins LLP served as legal counsel to GSO. Energy Alloys was advised by Lazard Frères & Co., LLC.
About Energy Alloys
Energy Alloys (www.ealloys.com) is an established and trusted provider, partner and problem-solver for oilfield metals to global oil and gas manufacturers and service companies. Founded in 1995, the $450 million Houston-based company has domestic operations in Houston, Tulsa and Lafayette and international operations in the United Kingdom (Arbroath, Bellshill, Rotherham and Sheffield), United Arab Emirates, Canada, México, South Korea, and Singapore.
About The Blackstone Group and GSO Capital Partners LP
Blackstone is one of the world’s leading investment and advisory firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, the companies it advises and the broader global economy. The firm does this through the commitment of its extraordinary people and flexible capital. GSO Capital Partners LP, with $29 billion of assets under management as of September 30, 2011, is one of the largest credit-oriented alternative asset managers in the world. GSO seeks to generate superior risk-adjusted returns by investing in a broad array of public and private instruments across multiple investment strategies. Key areas of focus include mezzanine, credit hedge funds, leveraged loans and other special situation strategies. Blackstone’s other alternative asset management businesses include the management of private equity funds, real estate funds, funds of hedge funds, and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com.
In the U.S:
Denise Bonniwell, Energy Alloys
Peter Rose, Blackstone
Phone: (212) 583-5871
In the U.K:
Caroline Powell, J D Marketing
020 8297 5388