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Hugg & Hall Equipment Buys Westquip
OKLAHOMA CITY — Hugg & Hall Equipment of Little Rock, Ark., has acquired Oklahoma City-based Westquip Inc.
Westquip, a Toyota Industrial Equipment dealer, offers rental forklifts in Oklahoma. Westquip also sells forklifts for special applications from other manufacturers including Hoist, Sellick and Combilift.
Financial details were not disclosed.
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Oil Boom Sparks Merger Activity
The boom in unconventional oil and gas sparked high-level merger and acquisition activity across the nation last year, according to a Deloitte report released Monday.
Tulsa’s own energy sector was no less active in 2012, with at least 15 major deals reported. Williams Partners LP, Unit Corp., NGL Energy Partners, Apache Corp, Caballo Energy LLC and others bought or sold in multimillion-dollar and even billion-dollar transactions.
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Little Rock Co. Acquires Westquip
February 10, 2013, Tulsa: Hugg & Hall Equipment Company, one of the largest material handling companies in the lower Midwest, has announced it has acquired Oklahoma City-based Westquip, Inc.
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Argonaut Invests in AIM
January 11, 2013, Tulsa: The owners of Applied Industrial Machining (AIM), an Oklahoma City-based contract manufacturer, have sold a controlling equity interest to Argonaut Private Equity. Acquisition Advisors represented the seller.
AIM provides precision machining services to an array of companies, a majority of which operate in the energy sector. Founded in 1978 and owned by Bob Gilson and Mike Drain, AIM employs 120 at its plant in southeastern Oklahoma City.
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My Seller Broke Ranks
There’s a point in each sell-side engagement – towards the end – when one of the serious buyer candidates makes a push to communicate directly with my seller client. I call it the “moment of truth.” I talk to my seller clients about it in advance. Try to prepare them, and stress how important it is they not flinch.
When the negotiations get tight, every buyer wants to go around the dealmaker. Communicate directly with the seller. Why? Because the buyer knows such might allow him to get a better deal. Or get the seller to agree, prematurely, to sell to them over another.
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