IRVINE, CA – via eTeligis - Hunter Wise Financial Group, LLC (www.hunterwise.com) announced today that its client, M&K Hotshot and Trucking, Inc. and M&K Rig Service, Inc. (collectively "M&K") based in Williston, North Dakota, has been acquired in a transformational deal by an operating subsidiary of Aveda Transportation and Energy Services, Inc. ("Aveda" TSX Venture Ticker: AVE). Both M&K and Aveda provide oilfield rig moving and heavy hauling services along with ancillary equipment rentals and transport to the booming U.S. energy sector. With an established presence in North Dakota's prominent and prolific Bakken Shale Region, M&K fills a geographical void for Aveda by strategically completing its positions on the map among the major US and Canadian production regions, while simultaneously doubling the size of Aveda in terms of EBITDA.
This is a "big move" for both M&K and Aveda who are both accustomed to routinely moving large and heavy oil rigs with 165-ton cranes and other specialized equipment and skilled crews. The transaction was a big move as well for M&K founders Mark and Kelly Brunelle who started with one Kenworth truck borrowed from their farm in 2005, and who diligently grew the business through hard work and reinvestment of profits over the years to approximately $38 million in revenue in 2013. M&K's fiscal 2013 EBITDA is estimated to be in the range of $12 million to $13 million.
"It's been a long road to get to this point," says Mark Brunelle, "and having an advisor like Paul Fejtek at Hunter Wise, who understands my business and the nuances of the oilfield, has been particularly helpful."
In connection with the closing of the acquisition on January 31, 2014, Mark and Kelly Brunelle along with their management and staff of nearly 90 employees have all joined the Aveda team. They are looking forward to the exciting opportunities ahead with Aveda supporting their continued growth and dedication to a high-level of service to their customers, and at the same time playing a small but important role in our nation's quest for energy independence.
CONTACT:
Paul Fejtek
Managing Director
Hunter Wise Financial Group, LLC
Hunter Wise Securities, LLC
2361 Campus Dr., Suite 100
Irvine, CA 92612
(949) 732-4103
pfejtek@hunterwise.com
SOURCE: Hunter Wise Financial Group, LLC
Associated Documentation:
Link to submission on http://www.eteligis.com
Hunter_Wise_2-11-14_LST_ETL.docx
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