CS Bankers V, LLC acquired Texas Gulf Fabricators, Inc. from Texas Gulf Energy, Incorporated for $0.23 million.
January 02, 2013 at 11:00 pm EST
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CS Bankers V, LLC acquired Texas Gulf Fabricators, Inc. from Texas Gulf Energy, Incorporated (OTCBB:TXGE) for $0.23 million in cash on December 28, 2012. Under the terms of agreement CS Bankers will acquire 0.1 million shares of Texas Gulf Fabricators. The consideration would be paid in cash at closing of the transaction. Post acquisition, any new companies formed by Texas Gulf shall not contain or include the word “Fabricators” or any derivative thereof. Any new companies formed by Texas Gulf Fabricators or CS Bankers V shall not contain the words Texas Gulf or TGE or any derivative there. Also Texas Gulf shall cease sales of any shop fabricated products to Enterprise Products Partners, LP or any affiliate of Enterprise, for a term of 2 years from December 28, 2012. James W. Christian of Christian, Smith & Jewell, L.L.P. acted as legal advisor for Texas Gulf. J. William Boyar of Boyar & Miller acted as legal advisor for CS Bankers V.
CS Bankers V, LLC completed the acquisition of Texas Gulf Fabricators, Inc. from Texas Gulf Energy, Incorporated (OTCBB:TXGE) on December 28, 2012.
Texas Gulf Energy, Incorporated is engaged in providing construction, maintenance, turnaround management, professional services, project management services, and fabrication and field services. The Company offers services to the refining, chemicals, liquefied natural gas, oil and gas, and midstream and upstream industries. The Company also offers consulting services. Its International Plant Services (IPS) group is engaged in the provision of engineers, construction staff and construction crafts. The IPS group specializes in process plant welders and pipefitters. Its Texas Gulf Fabrication Services group offers pipe, structural steel, skid and module, and vessel fabrication. Its Texas Gulf Energy International group provides capital projects, construction, turnaround and maintenance services for international markets throughout the world. It serves the engineering procurement construction companies, providing services to customers in North America and abroad.
TEXAS GULF ENERGY, INCORPORATED 