FOR IMMEDIATE RELEASE
Transworld Business Advisors Gulf Coast Office Closes M&A Transaction with
Mike Hoffman’s Equipment Service, Inc.
Mobile, Alabama – October 28, 2024 – Transworld Business Advisors of the Gulf Coast is pleased to announce the successful majority recapitalization of Mike Hoffman's Equipment Service, Inc., a leading provider of specialized services in the petroleum equipment industry, to Taxodium Partners and LH Partners Hoffman, LLC, an independent sponsor and a platform investor with a strategic focus on growth and expansion in the petroleum equipment sector.
Founded by Mike Hoffman in 1982 with “One truck, a toolbox, and the determination to do ‘whatever it takes’ for our customers,” Mike Hoffman's Equipment Service, Inc. has grown into a trusted provider of petroleum dispensing equipment sales, installation, and service. The Mobile, AL based company serves the central Gulf Coast region in markets including consumer, commercial, industrial, utility, military, aviation, and marine sectors. In addition to its petroleum equipment services, the company includes a second division focused on construction and civil sitework, making it a diverse and versatile provider in the industry.
“We are exceptionally proud of the teams who put this deal together,” said Bill Whiston, CMAP, Transworld’s lead M&A Advisor for the transaction. “We had an exceptional Seller, who trusted us to work this process while he remained focused on the operations of his business, a Buyer who communicated with clarity and transparency, incredible support from the legal and accounting groups, and I’m especially proud of our internal team who, as always, played a critical role every step of the way.”
This acquisition marks Taxodium’s entry into the petroleum equipment sector, positioning the group for future investments and growth in the industry. With their concentrated focus on this high-growth market, Taxodium is committed to driving innovation and expanding their presence. The acquisition of Mike Hoffman's Equipment Service, Inc. is a foundational step in their strategy to build a robust platform for industry consolidation and expansion focused primarily on customer service, relationships, and strategic partnerships with existing operators with a long legacy of petroleum service experience.
Mike Hoffman, Founder of Mike Hoffman's Equipment Service, Inc., expressed his enthusiasm for the transition: “This is an exciting new chapter for the company, our employees, and our clients. I am confident that Taxodium will carry forward our dedication to excellence and continue to serve our customers with the same level of integrity and service that has been our hallmark. I’m so confident that I will remain involved as both a liaison and equity investor.”
Chris Herrington, one of the Managing Partners for Taxodium and LH Partners, shares Mike’s enthusiasm saying, “Jacob and I have been searching far and wide for the right company and the right team to form our foundation in the petroleum service business. In many ways, Mike and Denise have built a family with their company, and we are excited to join that family. We look forward to many years working together, growing our footprint, and building lasting relationships with our staff, customers, and partners.”
Transworld Business Advisors of the Gulf Coast’s Mergers and Acquisitions team provided comprehensive advisory services throughout the transaction, ensuring a seamless and successful deal for both parties. Transworld Business Advisors has over 45 years of service and has more listings, territories, brokers, and agents than any other business brokerage firm. The Gulf Coast office has intimate knowledge of the petroleum equipment service and specialty contracting industries.
Taxodium focuses on driving long-term value by partnering with management teams to enhance operational efficiencies and expand market presence. The acquisition of Mike Hoffman's Equipment Service, Inc. allows them to leverage their financial and strategic resources, ensuring sustainable growth while continuing to deliver tailored solutions to Hoffman’s clients. This partnership maintains Taxodium’s expertise in nurturing promising enterprises across various industries.
Miller, Sullivan and Demarcay acted as legal advisers and Eisner Amper acted as accounting advisers to Taxodium.
About Transworld Business Advisors
Transworld Business Advisors® (TBA) is among the United Franchise Group™ (UFG) family of affiliated brands. With over 45 years of business brokerage experience, Transworld Business Advisors of the Gulf Coast is the leading business brokerage firm on the central Gulf Coast. We leverage our extensive experiences and our international Transworld platform to run confidential and competitive business sales processes. We help entrepreneurs sell their businesses with a focus on helping family-owned and closely held businesses with their strategic plans. Transworld offers a wide range of tailored advisory services in the northern Gulf Coast Region, including Alabama, Mississippi, Louisiana, and the Florida panhandle to fit the unique needs of your business.
For more information on how Transworld Gulf Coast can help your business, please contact
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M&A Advisor Transworld Business Advisors of the Gulf Coast 60 St. Francis Street, Mobile, AL 36602 bwhiston@tworld.com | o (251) 237-1030 | c (251) 533-7344 | tworld.com/gulfcoast Offices Worldwide | AL MS LA |
