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Farlie Turner Completes Sale of Applied Consultants, a Portfolio Company of Pine Tree Equity Partners, LLC

By: Farlie Turner - Date: 07/25/2013

Farlie Turner Completes Sale of Applied Consultants, a Portfolio Company of Pine Tree Equity Partners, LLC

FORT LAUDERDALE, Fla. July 25, 2013 – Fort Lauderdale-based investment banking firm Farlie Turner & Co. is pleased to announce the sale of Applied Consultants, Inc. (“Applied”), a portfolio company of Pine Tree Equity Partners, LLC (“Pine Tree”), a private equity firm based in Miami, Florida, to Nautic Partners, a Rhode Island-based private equity group.  Farlie Turner served as the exclusive financial advisor to Pine Tree in the sale of Applied, which closed on July 12, 2013.  Terms of the transaction were not disclosed.

Headquartered in Longview, Texas, Applied provides inspection for the construction of pipelines, gathering systems, metering stations, compression stations and processing plants to ensure that codes, standards, policies and procedures are being met.  The company has an established footprint with over 450 inspectors in several active oil regions, including the Eagle Ford of south Texas, Bakken of North Dakota and Utica/Marcellus of Ohio/Pennsylvania.  Given the continued expansion and growth of shale production, demand for inspection services will continue to increase as pipeline and related infrastructure are constructed to transport and process increased volumes of oil, gas and liquids.

“We enjoyed working with Farlie Turner's team.  They ran an excellent process that was focused, efficient and successful in hitting our timeline.  In short, they delivered and created a great outcome for Pine Tree and Applied going forward,” said Jeff Settembrino, Managing Partner at Pine Tree.

“We are thankful for our partnership with Pine Tree and the initiatives they took to dramatically expand our footprint and position us for further growth.  Going forward, we are excited to work with Nautic Partners as we pursue our next phase of growth," stated Matt Cheney, CEO of Applied.

“This marks another successful outcome for a client in the energy sector,” commented Mike Turner, a Managing Director at Farlie Turner.  “We look forward to building on this transaction as we continue to expand our energy practice,” he added.


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