HOUSTON, May 08, 2018 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (NASDAQ:AETI), a leading provider of power delivery solutions for the global energy industry, announced today that it has engaged Oppenheimer & Co as its exclusive advisor to explore financing options and strategic alternatives for the company.
The company is actively pursuing solutions to strengthen its balance sheet including equity or debt offerings, the purchase or sale of assets, strategic mergers, or other potential actions aimed at increasing shareholder value.
“Coming out of a downturn, we have repositioned the company into new markets and new products, and are focused on delivering both organic and inorganic growth. We are committed to delivering the best value for shareholders and ensuring the company is well positioned to deliver on its growth opportunities and shareholder value goals,” said Charles Dauber, CEO. “We have executed a number of transactions to increase shareholder value in the past, and selected Oppenheimer for the breadth of its oil & gas and industrial technology market knowledge, as well as its full range of public financing and both buy-side and sell-side mergers & acquisitions capabilities for companies of our size.”
There can be no assurances as to the form and timing of any transaction or if a transaction will be consummated and any final decision remains subject to approval by the AETI Board of Directors. AETI does not intend to make any further public statements until a transaction is executed.
About AETI:
American Electric Technologies, Inc. (AETI) is a leading supplier of power delivery solutions for the global energy industry. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I construction services. AETI is headquartered in Houston and has global operations in Beaumont, Texas; and Rio de Janeiro, Macae and Belo Horizonte Brazil. In addition, AETI has a minority interest in BOMAY Electric, located in Xi'an, China. AETI’s SEC filings, news and product/service information are available at www.aeti.com.
Contact:
Bill Brod
Chief Financial Officer
713-644-8182