Wednesday, November 2, 2011

News: Energy Alloys secures equity investment


Energy Alloys, the American firm with its UK headquarters in Rotherham, has secured equity investment to support its growth strategy.

The global provider of oilfield metals, services and solutions, announced that it had secured funds managed by GSO Capital Partners, a division of The Blackstone Group, one of the world's leading investment and advisory firms.

The company's strategy will continue to be executed by its current management team and GSO will join the board of directors.

Dave Warren, president, CEO and founder of Energy Alloys, said: "I am pleased to announce GSO's commitment to 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."

Dwight Scott, senior managing director of GSO, added: "We are delighted to have the opportunity to invest in Energy Alloys. They play 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."

Founded in 1995, Energy Alloys is worth an estimated $450m and has their headquarters in Houston, Texas and international operations throughout the world.

The UK headquarters in Rotherham include offices at Catcliffe and a manufacturing and warehouse facility at Canklow. The site processes and holds long products for the energy, stainless and engineering markets.

Energy Alloys website



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