DALLAS, Oct. 23, 2013 /PRNewswire/ -- Generational
Equity, a leading mergers and acquisitions advisor for
privately-held, middle-market businesses, is pleased to announce
the acquisition of its client, the NEC Group and certain assets
used in the operation of the NEC Group's business, by Northern
Frontier Corp. (TSX VENTURE:FFF.P) (the "Corporation" or "Northern
Frontier"), a TSX Venture Exchange (the "TSX-V") listed capital
pool corporation.
The NEC Group's corporate headquarters is located in
Lac La Biche, Alberta and its
field location is in Conklin,
Alberta, both of which are central to the substantial
industrial energy production developments in northeastern
Alberta. The NEC Group provides sustaining capital services to
large industrial energy customers in the steam assisted gravity
drainage region of northeastern Alberta. Specifically, the NEC
Group provides civil services related to the construction and
maintenance of roads, production pads, piping corridors, facility
earthworks and infrastructure. Service demand is driven by the
need of producing facilities to replace depleting production wells
and pads and develop the interconnecting infrastructure to
transport produced hydrocarbons to central processing
locations.
Northern Frontier is a Capital Pool Company ("CPC") that is
traded on the TSX Venture Exchange ("TSXV") under the symbol
"FFF.P". Northern Frontier Corp. was formed in late 2011, by a
group of senior business people from western Canada and the pacific northwest of the U.S.
and completed its initial public offering on February 13, 2012. Pursuant to the policies of
the TSXV, the Corporation has not carried on any business other
than for the identification and evaluation of businesses or assets
with the goal of completing a Qualifying Transaction. In pursuing
its Qualifying Transaction, Northern Frontier developed the
strategic objective of creating large diversified
industrial/resource services business through a buy and build
growth strategy.
Managing Directors Stephen
Crisham and Lori Galloway,
together with affiliate Ted Rattenberry, led the Generational
Equity deal team that advised the NEC Group on the
transaction. Ted Rattenberry stated, "I commend both
the sellers and the buyers as well as their respective advisors for
their exemplary effort and collaborative conduct during the overall
transaction process and in the negotiation of a mutually beneficial
transaction structure."
Colette Benson, one of the
selling shareholders of the NEC Group said, "The transaction
achieves our objectives by enabling us to pursue other interests.
At the same time, we are pleased to continue our involvement with
the NEC Group on a more limited basis and partner with Northern
Frontier who we are confident will be an excellent operator for the
business."
Chris Yellowega, newly appointed
President and Chief Executive Officer of Northern Frontier said,
"We believe that the NEC Group's proximity to client operations,
localized workforce and convenient infrastructure provides an
advantage in the marketplace. When clients have need of immediate
response from a local provider, the NEC Group is a natural choice.
We anticipate that the market in which the NEC Group operates will
have opportunity for growth and that the NEC Group provides a
platform to help capitalize on this opportunity."
About Generational Equity
Generational Equity provides mergers, acquisitions, strategic
growth advisory services, and information for privately held and
family-owned businesses to exit their business successfully.
Generational Equity uses a four-phase approach that includes
education, financial analysis and reporting, sales documentation
and deal-making ability to offer business owners an unparalleled
level of commitment and experience, all focused on helping to
release the generational equity and wealth in every business.
Generational Equity is headquartered in Dallas, TX, has more than 200 professionals in
North America, and was recently
recognized by the M&A Advisor as the M&A
Consulting/Advisory service firm of the year. For more information
visit the following websites at www.genequityco.com,
www.gecpress.com or http://blog.genequityco.com/.
For more information:
Rebecca Gruman
972-232-1100
communications@genequityco.com
SOURCE Generational Equity