Experienced Energy Services Investors To Provide Capital And Resources To
Leading Oil Sands Player
SAN FRANCISCO, Aug. 5 /CNW/ -- Genstar Capital, LLC, a middle market
private equity firm that focuses on investments in selected segments of the
industrial technology, life sciences, healthcare services, business services
and software services industries, today announced that it will build on its
experience in the energy services sector with the acquisition of Voice
Construction, a leading provider of civil construction services to the major
operators in the Alberta oil sands and surrounding areas.
Voice Construction is headquartered in Edmonton, Alberta, and has a
regional focus in Northern Alberta, particularly Edmonton, Fort McMurray, and
surrounding areas, providing core specialty services that include site
preparation, and infrastructure development such as underground utilities
installation, tank foundation, tank containment lot construction and
maintenance services. It also provides services in related energy sectors for
projects in the petrochemical, pipeline and power industries.
"The acquisition of Voice Construction represents a unique opportunity
for us to back a leading player in the ongoing growth and development in the
oil sands region in Canada," said Darren J. Gold, a Managing Director of
Genstar. "The attractiveness of the vast energy reserves in the Canadian oil
sands and the resulting robust investment in that region has led to a rise in
major construction projects that will be a key part of the company's growth.
We look forward to working with Voice's senior management team to provide the
capital and resources to further grow the business."
Genstar has previous experience in Alberta's oil sands as one of the
original investors in North American Energy Partners, Inc. (NAEP) which the
firm acquired in 2003. NAEP is one of the largest providers of mining and
site preparation, piling and pipeline installation services in western Canada.
Genstar acquired Voice Construction from the Voice family, which founded
the company in the 1930s. The company today has a highly experienced
management team and a fleet of modern heavy construction equipment and an
experienced service group. Voice Construction's clients are some of the
largest energy and petrochemical companies in Western Canada.
"Voice has developed a number of competitive advantages during its many
years of focused experience operating in the oil sands region that will allow
us to continue to be a leader in the Western Canadian construction industry,"
said Scott Shea, President and CEO of Voice Construction. "We are very
pleased to be partnering with Genstar given their experience in and knowledge
of our industry and their track record as successful investors." Michael
Hrynchuk, VP of Operations for Voice, added, "Given the abundance of projects
that have materialized in Alberta, and the stability of the oil sands, the
resources and support that Genstar and their management bring to the Voice
team could not have materialized at a more opportune time. I expect this new
relationship will only strengthen and expand the services and capacities that
Voice has always strived to provide its clients as well as open a door to
numerous new opportunities and ventures."
Financing for the transaction was led by Canadian Imperial Bank of
Commerce (CIBC) and HSBC Bank Canada (HSBC). Voice Construction's financial
advisor was CIBC World Markets.
About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that
for 20 years has been actively investing in high quality middle-market
companies and building value in those businesses by utilizing the expertise of
its operating partners. Based in San Francisco, Genstar works in partnership
with its management teams and its network of operating partners and strategic
advisors to transform its portfolio companies into industry-leading
businesses. Genstar has more than $3 billion of committed capital under
management and targets investments focused on selected sectors within the life
science, healthcare services, industrial technology, software, and business
Contact: Chris Tofalli
Chris Tofalli Public Relations
For further information:
For further information: Chris Tofalli, Chris Tofalli Public Relations,
+1-914-834-4334, for Genstar Capital, LLC Web Site: http://www.gencap.com