March 2020. PVB Advisors advises Marshall Broadcasting Group, Inc. ("MBG") on the sale of television station assets.
PVB Advisors was the exclusive advisor to Marshall Broadcasting Group, Inc. in the sale of television stations KLJB in Davenport, IA; KMSS in Shreveport, LA; and KPEJ in Odessa, TX. The buyer was Mission Broadcasting, Inc., an affiliate of Nexstar Media Group. The sale was transacted in accordance with Section 363 of the U.S. Bankruptcy Code. The value of the transaction was approximately $57 million, including the payment of cure costs and other bankruptcy obligations by the buyer.
Marshall Broadcasting Group, with headquarters in Los Angeles, CA, was one of a small number of minority-owned operators of television broadcast stations in the U.S. MBG acquired the stations sold in December 2014 and January 2015 and all 3 stations were affiliates of Fox Broadcasting Corporation.
September 2019. PVB Advisors advises Butler Telecom on the Acquisition of Core Development Services.
PVB Advisors served as the exclusive financial advisor to Butler Telecom, LLC in the acquisition of the business and assets of Core Communications Group, LLC. "PVB Advisors’ knowledge of the business of Butler America Telecom and its strategic growth plans was instrumental in finding the ideal acquisition candidate for the company, and their ability to efficiently navigate the myriad obstacles in the transaction process resulted in a mutually satisfying deal completion,” stated Walt Gorman- President & CEO, Butler America Telecom, LLC.
Core Communications Group, LLC/ dba Core Development Services
With headquarters in Brea, CA, Core is a leading provider of site acquisition and development services to the U.S. wireless telecommunications market. Its customers are the largest North American wireless telecom network operators. Core primarily operates in the Southern California market, and provides the following services: new site canvassing and identification; lease agreement and amendment negotiation; transport readiness; zoning analysis and permitting; site modification; regulatory compliance; and environmental coordination. www.core.us.com.
Butler America Telecom, LLC
Butler America Telecom has provided outsourced services to the wireline and wireline telecommunications sector for nearly 30 years, operating nationwide through a network of six strategically placed office locations. Services provided include engineering and installation; project management; staff augmentation; warehousing and logistics; colocation services; and metro ethernet services. Butler America Telecom is based in Santa Barbara, CA. www.butlertelecomllc.com.
July 2018. PVB Advisors Arranges Restructuring of Bank Debt for Marshall Broadcasting Group.
PVB Advisors advised Marshall Broadcasting Group, Inc. on the restructuring of bank credit facilities totaling $51,000,000, and including the extension of maturity dates, a reduction in interest rates, a restructuring of term loan payment schedules, and a revision of loan agreement covenants.
Marshall Broadcasting is the owner/operator of 3 Fox affiliated TV stations and one of the largest minority-owned broadcasters in the U.S. PVB Advisors represented Marshall Broadcasting in the acquisition of these stations in December, 2014 and January, 2015 from media conglomerate Nexstar Broadcasting Group, Inc.
February 2018. PVB Advisors Advises Juvo Telecom on its Sale to System One
PVB Advisors served as the exclusive financial advisor to Juvo Telecom, LLC and arranged the sale of its assets and business to System One Holdings, LLC.
Juvo Telecom, LLC
With headquarters in Cary, NC, Juvo is a leading provider of site acquisition and development services to the U.S. wireless telecommunications sector, with its customers being the largest North American wireless telecom network operators. Juvo provides the following services: new site canvassing and identification; lease agreement and amendment negotiation; transport readiness; zoning analysis and permitting; regulatory compliance; and environmental coordination.
System One delivers specialized workforce solutions and integrated services through a network of more than 50 offices nationwide and across multiple brands. It has more than 7,000 consultants on assignment with its clients nationwide, and core specialty practices include energy, engineering, IT, commercial, scientific & clinical, legal, marketing, and telecommunications. System One is based in Pittsburgh, PA.
January 2017. PVB Advisors Advises Butler America on its sale to HCL Technologies
PVB Advisors served as the exclusive financial advisor to Butler America Holdings, Inc. in the sale of subsidiary Butler America Aerospace, LLC ("BAA") to HCL America, Inc., the U.S. subsidiary of India-based HCL Technologies Ltd. ("HCL"). Included in the transaction was the sale of the assets of Butler Technical Services Pvt Ltd., BAA's subsidiary with operations in Hyderabad, India to HCL.
The value of the transaction was $85,000,000, all cash.
Christine Ciocca, President of BAA, noted, "PVB Advisors' knowledge of the business of Butler America Aerospace was instrumental in attracting the ideal strategic buyer, and their negotiation and transaction skills were critical in completing a complicated transaction to the mutual benefit of all parties."
Butler America Aerospace, LLC
With headquarters located in Shelton, CT, BAA is a leading provider of outsourced engineering and staff augmentation services primarily to aerospace original equipment manufacturers throughout the United States across four distinct domains: Outsourced Engineering Services; Aftermarket Services; Temporary Staffing; and Information Technology. Employing over 750 employees in the U.S. out of 6 operating locations, including 2 Engineering Design Centers, BAA is a provider of choice to a premier customer list of aerospace and defense contractors.
HCL Technologies Ltd.
HCL, with global headquarters located in Noida, India, is a leading global IT services company offering an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services, and other business services. HCL generates annual revenues in excess of $6 billion, and its shares are publicly-traded on the Bombay Stock Exchange (“BSE”) and the National Stock Exchange of India (“NSE”). HCL and its subsidiaries employ approximately 100,000 employees across the globe, including approximately 11,000 in the United States.
November 2015. PVB Advisors represented investor and healthcare executive Gregory Sorensen, MD in the acquisition of a substantial minority interest in Deertfield Imaging Holdings, Inc., d/b/a IMRIS ("IMRIS" or the "Company"). IMRIS is a leading provider of Image Guided Therapy Solutions and Products utilized in a hospital environment to customers located throughout the world, with headquarters in Minnetonka, MN. Dr. Sorensen was previously President & Chief Executive Officer of Siemens Healthcare North America. In addition to investing in IMRIS, he joined the Company as Executive Chairman.
February 2015. PVB Advisors represented Butler America, LLC in the acquisition of Essex Consulting Group, Inc., a provider of engineering and information technology consultants and services to Fortune 500 clients, with a particular focus on clients operating in the U.S. energy industry. PVB Advisors sourced, structured, and negotiated the transaction, and managed the acquisition due diligence process on behalf of Butler America.
December 2014. PVB Advisors represented Marshall Broadcasting Group, Inc. ("MBG"), a company newly-formed by media entrepreneur Pluria Marshall, Jr., acquired 3 Fox affiliated television stations, including KMSS in Shreveport, LA; KPEJ in Odessa-Midland, TX; and KLJV in Quad Cities, IA. The stations were acquired from Nexstar Broadcasting Group, Inc. for an aggregate price of $58.5 million. The acquisitions established MBG as a leading "minority-owned" operator of media broadcast properties. PVB Advisors negotiated and closed the acquisitions on behalf of MBG, and arranged financing for the purchases and working capital in the aggregate amount of $62 million from a bank consortium led by Bank of America.
December 2014. PVB Advisors represented Butler America, LLC in its acquisition of Healthcare Staffing, Inc. ("HSI"), with headquarters in Atlanta, GA. HSI provides outsourced HR and staffing services to government sponsored healthcare facilities located throughout the State of Georgia. PVB Advisors originated the opportunity, structured and negotiated the acquisition, managed the due diligence process, and closed the transaction on behalf of Butler America.
October 2013. PVB Advisors represented Butler America, LLC in the acquisition of Kenton Group, a provider of engineering solutions to the telecommunications industry. The acquisition resulted in Butler America, a provider of engineering services to the aerospace, telecommunications, and transportation industries, strengthening its offerings to the telecommunications sector. PVB Advisors originated the transaction opportunity, structured and negotiated the transaction, and managed the due diligence, financing, and documentation process to achieve a successful close.