The Employee Stock Ownership Plan (“ESOP”) purchased 100% of the common stock of the Company in a leveraged ESOP recapitalization.

COMPANY
The Company is an industrial machinery dealer and full-service rebuild shop that buys, refurbishes and resells used oil field equipment. The Company specializes in turn-key pumping solutions, pumps, engines, generators, compressors, pump parts, gearboxes, and other rotating industrial equipment.

OUR ROLE
Pendo Advisors, LLC served as independent financial advisor to the trustee of the ESOP and provided a fairness opinion in connection with the transaction.