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Press release from Business Wire

Harris Williams & Co. Advises Casedhole Solutions, Inc. in its Sale to Strategic Buyer C&J Energy Services

Thursday, June 07, 2012

Harris Williams & Co. Advises Casedhole Solutions, Inc. in its Sale to Strategic Buyer C&J Energy Services10:26 EDT Thursday, June 07, 2012 RICHMOND, Va. (Business Wire) -- Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Casedhole Solutions, Inc. (Casedhole), a leading oilfield service company, to strategic buyer C&J Energy Services (C&J NYSE:CJES) for approximately $272.5 million. Casedhole was a portfolio company of Intervale Capital (Intervale). Harris Williams & Co. acted as the exclusive advisor to Casedhole. The transaction closed on June 7, 2012 and was led by Drew Spitzer, Brian Lucas and Luke Semple from the firm's Energy & Power (E&P) Group along with Corey Benjamin from the firm's Richmond office. “This transaction represents an incredible partnership and is a great outcome for both parties,” said Drew Spitzer, a managing director and co-head of Harris Williams & Co.'s E&P Group. “Casedhole has developed a leading market position across the most active regions of oil and gas exploration and production activity in the U.S. Casedhole's suite of services is an excellent complement to C&J's service offering and represents a powerful combination.” Casedhole, founded in 2005 and headquartered in Houston, TX, is a leading multi-regional, independent provider of cased-hole wireline and other complementary services and a market leader across the most attractive regions of oil and gas exploration and production activity. Casedhole performs critical tasks throughout a well's lifecycle, including logging, perforating and pipe recovery. In addition, Casedhole performs complementary pressure testing, and pumpdown services. It has expertise in both horizontal and high-pressure, high-temperature completion applications. Casedhole operates its fleet of 58 wireline units, 11 pump-down units and auxiliary equipment through 12 district offices in 10 of the most active basins in the United States. Intervale is an energy-focused private equity firm with headquarters in Cambridge, MA and an office in Houston, TX. Intervale invests exclusively in middle market oilfield services companies and related technologies. Intervale's Fund I closed on $280 million in 2008. The firm is currently actively investing out of its second fund. C&J is an independent provider of premium hydraulic fracturing, coiled tubing and pressure pumping services with a focus on complex, technically demanding well completions. Through C&J's subsidiary Total E&S, Inc., the company manufactures and repairs equipment to fulfill their internal needs as well as for companies in the energy services industry. C&J operates in some of the most geologically challenging basins in South Texas, East Texas/North Louisiana, Western Oklahoma and West Texas/East New Mexico. Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services. The firm's E&P Group has experience across a broad range of sectors, including oil and gas equipment and services, energy efficiency and clean tech, industrial and infrastructure services, power products and technology, engineering and construction, and environmental services. For more information on our energy and power experience, please contact Drew Spitzer or Tiff Armstrong at +1 (804) 648-0072. Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business. For general release inquiries, please contact Kimberly Baker, marketing director, at +1 (804) 648-0072. Harris Williams & Co.Kimberly Baker, marketing director, +1 (804) 648-0072