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Universal Plant Services Announces Strategic Minority Investment by Oaktree Capital Management, LP – Cochrane Times Post



HOUSTON — Jones Industrial Holdings, Inc. (“JIH”), the parent company of Universal Plant Services and its affiliates (“UPS” or the Company), announced today that funds managed by Oaktree Capital Management, LP (“Oaktree”), a leader among global investment managers, have completed a non-controlling investment in JIH. The proceeds were used to purchase a minority investment previously held by MML Capital Partners and to provide the Company with capital for further growth. Additional terms of the transaction were not disclosed.

Bradley Jones, Co-Chief Executive Officer of JIH, said, “Our new partnership with Oaktree not only strengthens our financial position for future growth strategies, but also enhances the leadership and expertise of our existing team, ultimately enhancing the value we bring to our current and future customers.”

UPS’s mission is to provide world-class integrated specialty services designed to maximize the performance of critical energy assets. The Company serves owners of various types of energy infrastructure through eleven service offerings, providing maintenance, repair and installation services for rotating, fixed, reciprocating and electrical equipment. The Company will continue to acquire, integrate and enhance client operations across the spectrum of its specialty services.

“The UPS team is known for its agility and commitment to grow the Company in ways that are important to our customers, especially as markets evolve,” said Reagan Busbee, President and Chief Operating Officer of UPS. “Our partnership with Oaktree exemplifies our relentless pursuit to strengthen UPS across our management platform for financial, operational and procedural excellence, thus furthering our ability to cultivate our internal team and provide best-in-class services to our clients,” said Busbee.

Michael Cardito, Managing Director and Co-Portfolio Manager of Oaktree’s Power Opportunities strategy, said, “UPS has a proven track record of smart, strategic growth aimed at enhancing its offerings to customers. We’ve known the UPS team for more than a decade and we’re thrilled to partner with the Company at this exciting point in its history. We are excited to bring our capital, industry relationships and complementary portfolio companies to actively support UPS in its continued expansion.”

“UPS is grateful to MML Capital Partners who has been a trusted partner since 2016 and supported our management team over the past four years,” said Stewart Jones, Co-Chief Executive Officer of Jones Industrial Holdings.

Mark Evers, a Partner at MML Capital Partners, said, “UPS is an impressive industrial services platform that has grown significantly in recent years. It has been our pleasure to work with the senior leadership team and the Board. We wish them continued success in the years ahead.”

About Universal Plant Services

Universal Plant Services, a Jones Industrial Holdings company, is one of North America’s largest comprehensive specialty service providers for the energy industry — providing maintenance, repair and installation services for rotating, fixed, reciprocating and electrical equipment. With headquarters in Houston, Texas, UPS employs 3,000 highly trained individuals with 16 full-service facilities that specialize in daily maintenance, turnarounds and capital projects. For more information, please visit

About Jones Industrial Holdings

Jones Industrial Holdings, headquartered in Houston, Texas, is a privately held holding company for Universal Plant Services and its affiliates. UPS is one of the largest specialty service providers for rotating and fixed equipment to the refining, petrochemical, power generation and offshore industries in the United States. For more information, please visit

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments with $122 billion in assets under management as of June 30, 2020. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at

About MML Capital Partners

Since 1988, MML Capital Partners has invested more than $2 billion through its affiliated funds in more than 100 companies in the United States, United Kingdom and Europe. During this time, we have worked as an active financial partner to grow middle market businesses through organic expansion, add-on acquisitions and other strategic initiatives. Our focus is to back leading management teams who own a meaningful equity stake and seek a key financial partner to take their business to the next stage of evolution. For additional information, please visit



Paul Stouffer
Vice President of Corporate Development
Universal Plant Services

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Lawyer for prominent Halifax investor says the bank is to blame in multi-million investment loss – Global News



The lawyer representing a high profile investment advisor in Halifax says his client is not at fault in a civil lawsuit that is seeking $40 million from a failed investment strategy and is placing the blame squarely on the National Bank of Canada and its subsidiary National Bank Investment Network (NBIN).

On Sept. 14, a $40 million civil lawsuit was filed on behalf of 30 plaintiffs at the Nova Scotia Supreme court against Fredrick Saturley and his investment firm High Tide Wealth Management and the NBIN who supervise the accounts.

Read more:
$40-million lawsuit filed against prominent Halifax investor and National Bank

High Tide’s lawyer Chris Robinson says many of the plaintiffs in the civil suit are long-time clients who have had financial success with Saturley and as part of their investment strategy had signed discretionary trading agreements which allow Saturley and High Tide to pursue trades without consultation.

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Robinson says every one of these clients listed in the civil suit entered into and signed an agreement as part of their investment policy statement with High Tide.

“And that investment policy statement for these clients indicated that they were seeking capital appreciation, generation of income and that they were willing to accept above-average risk to achieve these results,” said Robinson.

A discretionary agreement allows Saturley and High Tide the ability to make trades without having to call and consult the client said Robinson which contradicts exactly what many of the clients are claiming in the lawsuit.

$40 million lawsuit filed against prominent Halifax investor and national bank

$40 million lawsuit filed against prominent Halifax investor and national bank

Lawyer Ian Gray represents the 30 plaintiffs and acknowledges that some of his clients may have signed discretionary agreements with High Tide but says they didn’t sign up for the high-risk trading that he says put their investments at risk.

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“We’ve got people who wanted relatively aggressive strategies and we’ve got people who wanted extremely safe strategies and as best we can tell, they all got the same risky ride,” said Gray.

Gray and his clients allege Saturley was independently executing these risky investment strategies, and when the COVID-19 pandemic hit and the market crashed, so did the clients’ portfolios.

Retired Canadian Armed Forces member Trevor Long is one of the plaintiffs, he says he invested a significant amount of his disability payout from veteran affairs with High Tide wealth management in early 2019.

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Long says he initially invested $80 thousand and when his portfolio was doing well, he added another $36 thousand.

“Everything was going good until the middle of February and then March, I get a call and a lot of money disappeared,” said Long.

Long estimates he lost more than $80 thousand and alleges Saturley was pursuing high-risk investment strategies which he never signed up for.

“He was doing what he wasn’t authorized to do by me as a client and the bank obviously let him do it and we all got run roughshod over,” said Long.

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Coronavirus outbreak: The impact COVID-19 is having on the global economy

Coronavirus outbreak: The impact COVID-19 is having on the global economy

Robinson says the client’s anger is misplaced and says it’s not Saturley or High Tide that is at fault but suggests it’s the bank and NBIN who panicked in Mid-March when COVID-19 sent the market crashing.

On March 9 as the market was sinking, many of the clients received a margin call on their account and needed to make a deposit to bring their accounts back onside says Robinson and in the meantime, Saturley was working with his clients to come up with the money the bank was looking for.

Robinson said the bank came calling again on Sunday, March 15 and said they were going to liquidate all the accounts on Monday if the money wasn’t in place, which he said left Saturley and the clients little time to come up with the money.

“The bank panicked and I have no idea why they did that,” said Robinson. “What they did however is step into the shoes of Mr. Saturley and his clients and simply said if there’s not a cheque there at market open, everything is getting liquidated and that’s what they did.”

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Robinson said Saturley and his clients didn’t have time to meet the bank’s demands and if they only allowed them a few more days the market would have turned itself around and the accounts would have stabilized themselves.

“If the bank had of just been patient,” said Robinson. “Within 10-days those accounts would have been back onside and none of those liquidating transactions would have needed to happen.”

Gray said he agrees the bank is at fault but says Saturley was operating outside of his clients’ agreement.

“Make no mistake we say the bank is responsible for this,” said Gray. “But we say Mr. Saturley and his company are responsible as well.”

Read more:
City ordered to pay after Halifax Transit bus ran over passenger’s bicycle in 2019

Global News reached out to the National Bank for an interview but they declined to comment for this story.

Neither side has filed a defense statement at this point as the legal counsel for the plaintiffs said they will likely be adding further names to the civil lawsuit and will make amendments to the lawsuit in the coming weeks.

None of these allegations have been proven in court and no court date is scheduled at this time.

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© 2020 Global News, a division of Corus Entertainment Inc.

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Event Store Secures Series A Investment English English – PRNewswire



BATH, England, Sept. 29, 2020 /PRNewswire/ — Event Store today announces it has secured Series A financing from strategic investor Qualasept Holdings (‘QH’). 

Event Store is the company behind EventStoreDB, the popular open source event stream database. EventStoreDB was open sourced in 2012 and has relatively quietly built a strong commercial business. In late 2018, Event Store Limited was formed and an expanded leadership, engineering, and support team were introduced. The Series A investment represents Event Store’s next stage of growth towards EventStoreDB’s adoption in the broader database market.

EventStoreDB is an operational “source of record” database technology.  It has similarities to event-oriented integration technologies, such as Apache Kafka, from a stream and API perspective. However, it was built for database workloads from the start. Dave Remy, Event Store CEO, explains, “Most mainstream database technologies, whether relational, graph, or document-oriented, keep the latest state of the data, throwing away the old data when it changes. In contrast, EventStoreDB, the leader in the emerging class of databases, called Event Stores, is specifically designed to keep the changes along with the business context of those changes, in the form of events. Current state can then be derived from replaying the event stream. This pattern enables a myriad of benefits, including powerful audit, debugging, caching, occasionally connected scenarios, and much more.” 

Event Stores are foundational to the increasingly popular Event Sourcing design pattern.

EventStoreDB is applicable across industries and is particularly valuable for those with challenging audit requirements, such as financial services and healthcare. Innovative companies like Walmart, Xero, Insureon, Linedata,, UK National Health Service, Swiss Air Traffic Control and many more use EventStoreDB in mission-critical production environments. 

Building on its momentum, the company is launching Event Store Cloud, a multi-cloud database as a service (DBaaS). The subscription service, currently in Preview, will provide cloud convenience and make EventStoreDB more accessible to developers and companies of all sizes.

“As applications increasingly move toward event-driven architectures, foundational platforms like EventStoreDB will be a critical first source of truth in capturing and enabling analysis of event data. This technology will generate meaningful and measurable value across multiple industries,” said Ben Kolada, Director, Head of DataTech at ICON Corporate Finance.

“From the time Greg Young and his team released EventStoreDB in 2012, it has been the go-to database for CQRS and Event Sourcing projects. This Series A investment represents a new stage for Event Store and EventStoreDB. We will accelerate the development of Event Store Cloud, improve the developer experience, increase scalability, and build new products and services to help developers build systems within an event-driven architecture,” Dave Remy said.

Tech investment bank ICON Corporate Finance advised Event Store on the transaction and corporate structuring, while QH was advised by BDO, Roxburgh Milkins Limited, and Alantra. 

Media Contact:
Dan Crosby
Email: [email protected]

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View Marketing as an Investment—Not an Expense – Advanced Manufacturing



Trends and Ideas in Strategic Marketing

Peter Drucker, known as the father of modern management, was quoted in a 2006 article in Forbes as saying, “Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.” Although today’s business owners are often inclined to see marketing as an expense, Drucker’s view is more accurate. Marketing is a needed investment. Marketing drives results by finding new customers.

Marketing investments can include updating your message and website, producing customer video testimonials, and developing webinars.

Time to Build a Moat

When organizations treat marketing as a cost, they often focus on short-term sales and ignore the long term. However, if you want your company to continue growing, your goal should be to build as much of a moat around your business as you can. This is achieved by expanding your investment of marketing dollars into your company’s owned assets. Such investments may include; updating your message and website every year, producing customer video testimonials for use as sales tools, developing a series of educational webinars, and developing content that can be used both for thought leadership and for search engine optimization (SEO). Although these efforts may not produce short-term returns, they will aid in strengthening your manufacturing business over time.

The problem is that if you only look for marketing initiatives that guarantee an immediate ROI—consistent with a view of marketing as an expense—you will never plant any of these long-term marketing seeds needed to build the moat that is necessary to create a sustainable competitive advantage.

Examining my own life as a business owner, I have “walked the walk” while growing TribalVision. The reason TribalVision has achieved success is that, from day one, I’ve understood the importance of marketing to unlock dramatic growth. Before even opening the doors for business, and with little money to spare, I wrote a book, spent months crafting TribalVision’s message, built a website that made TribalVision look like an established company, developed an animated video to explain the “why” behind TribalVision, wrote multiple white papers, developed numerous marketing presentations, and crafted a 30-page marketing plan to identify and capture new business.

If I had viewed marketing as an expense rather than an investment, I never would have done any of these activities. I simply would have started TribalVision with a business card, an average 10-page website and not much else, which is what most startups with little money do. Looking back 10 years later, although I cannot attribute a specific ROI to each of those assets, I know those investments as a whole provided a much larger payoff than I would have earned by focusing only on short-term ROI initiatives.

Take a Leap of Faith

If we are to build something great, we must take a leap of faith—a calculated leap of faith but a leap of faith nonetheless.

If Howard Schultz, Steve Jobs, Richard Branson, or Elon Musk invested only in efforts backed by guaranteed results, they never would have built their empires.

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