B. Riley FBR Acts as Sell-Side Advisor to O-Tex Holdings, Inc. in its Sale to C&J Energy Services, Inc.
LOS ANGELES, Dec. 05, 2017 (GLOBE NEWSWIRE) -- 2017 – B. Riley FBR, Inc. (“B. Riley FBR”), a leading full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), served as the exclusive sell-side advisor to O-Tex Holdings, Inc. (“O-Tex”). O-Tex and its operating subsidiaries were acquired by C&J Energy Services, Inc. (“C&J”) (NYSE:CJ), a leading provider of oilfield services to oil and gas exploration and production companies in the U.S., in a cash and stock transaction. The total consideration paid by C&J was approximately $132.5 million in cash (subject to customary post-closing adjustments) and 4.42 million shares of C&J common stock. The acquisition closed on November 30, 2017.
O-Tex is the fourth largest provider of oilfield cementing services in the United States, with eight field offices, eight lab facilities and one of the youngest fleets in the industry. O-Tex specializes in both primary and secondary downhole specialty cementing services in most major shale plays within the United States. The combination of O-Tex and C&J transforms C&J’s cementing business into one of the largest and most competitive in the country.
About B. Riley FBR, Inc. B. Riley FBR, Inc. is a leading investment bank which provides corporate finance, research and sales and trading to corporate, institutional and high net worth individual clients. Investment banking services include initial secondary and follow-on offerings, institutional private placements and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research.