Terms of the transaction, which closed on February 1, were not disclosed.
Founded by Scott Sibert in 1978 and based in Odessa, TX, Cisco has become one of nation’s leading providers of equipment, services, parts and supplies to the midstream infrastructure, general construction, agriculture and general industrial markets. The company’s specialized service capabilities, diverse and versatile suite of equipment for rent or sale and strategic footprint are integral to its customers’ exacting operating requirements. Cisco is recognized for its project services, maintenance and repair solutions, technical expertise, operational flexibility and unparalleled customer service.
The company operates four facilities located near major customer hubs and supports more than 200 customers, including engineering, construction and project management companies, many of which it has served since inception.
Cisco’s management team, under the leadership of Sibert, will continue to lead the business on its current path of expansion and growth.
“This is an exciting development for Cisco’s customers, OE partners and more than 100 dedicated associates,” said Sibert. “With the support of Stellex, Cisco will redouble our dedication to providing our customers with exceptional service, reliability and quality. We are very excited about our partnership with Stellex and our shared vision for future growth.”
Ray Whiteman, a managing partner of Stellex, added, “Cisco is optimally positioned for continued growth. We look forward to working closely with Cisco’s accomplished management team to support their expansion in serving the company’s loyal customer base.”
Oppenheimer & Co. acted as exclusive financial advisor to Stellex on the transaction, while Milbank, Tweed, Hadley & McCloy and K&L Gates acted as counsel. Deloitte Corporate Finance and Davis, Gerald & Cremer represented Cisco. Syntal Capital Partners and Todd, Barron, Thomason, Hudman & Bebout advised the Sibert family.
Stellex Capital is a private equity manager that invests in U.S. and European corporate assets.
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