COSTA MESA, Calif., Dec. 10, 2007 (PRIME NEWSWIRE) -- CE Franklin Ltd. (TSX:CFT) (AMEX:CFK) has acquired Jen Supply, Inc.
RSM EquiCo Capital Markets initiated the transaction, sourced the buyer, led the negotiations and acted as exclusive financial advisor to Jen Supply.
"Jen Supply is a leading supplier to the oil and gas industry in east-central Alberta with a reputation for quality service," said Michael West, chairman, president and CEO, CE Franklin Ltd. "Combining Jen Supply and CE Franklin's operations and talent in the east-central Alberta market will strengthen CE Franklin's market presence and reach, resulting in improved customer service capability and operating efficiencies."
Jen Supply has been acquired on a debt-free basis. The transaction will be financed from available bank credit facilities and is expected to be accretive to CE Franklin shareholders.
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Bruce Manchester, senior managing director and Michael Parham, vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Jen Supply, Inc.
Jen Supply (www.jensupply.com), based in Stettler, Alberta, operates four oil field equipment supply stores in east-central Alberta. Jen Supply was founded in 1997 and has grown profitably, with revenues of approximately $22 million for the last 12 months.
About CE Franklin Ltd.
For more than half a century, CE Franklin (www.cefranklin.com) has been a leading supplier of products and services to the energy industry. CE Franklin distributes pipe, valves, flanges, fittings, production equipment, tubular products and other general oilfield supplies to oil and gas producers in Canada. These products are distributed through its 42 branches, which are situated in towns and cities serving particular oil and gas fields of the western Canadian sedimentary basin. In addition, the company distributes pipe, valves, flanges and fittings to the oilsands, refining, heavy oil and petrochemical industries and non-oilfield related industries such as the forestry and mining industries. CE Franklin is based in Calgary, Alberta.