Vision Oil Tools

OFS Energy Fund (OFS) has closed the sale of Vision Oil Tools (Vision), a Fund II portfolio company, to BEA Logistics Services LLC, a wholly-owned subsidiary of B/E Aerospace, Inc. (B/E), the world’s leading manufacturer of aircraft cabin interior products and the world’s leading provider of aerospace fasteners, consumables, and logistics services. This acquisition furthers B/E’s initiative to expand its consumables management segment into the oilfield rental equipment, logistics and services business. Gary Roberts, Vision’s CEO, along with the remainder of Vision’s management team will remain with the business post-transaction. The acquisition purchase price, including expenses, was approximately $145 million. An additional payment of approximately $35 million may be paid in 2015 subject to Vision achieving certain financial results during 2014. Locke Lord, led by Bill Swanstrom and Steve Peterson, represented Vision in this transaction.
Posted April 30, 2014.

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