MEMPHIS, Tenn. -- Morgan Keegan has announced the recapitalization of On-Site Fuel Service Inc. by Greg Nethery, Capital-South Investments LLC and Harbert Mezzanine Partners III.
Based in Brandon, Miss., On-Site is a leading provider of commercial mobile fueling and other fuel delivery services to a diverse array of customers in various industries. On-Site delivers fuel at competitive prices to more than 1.8 million vehicles, pieces of equipment and tanks each year.
Morgan Keegan served as exclusive financial advisor to On-Site. Morgan Keegan developed, managed and executed a confidential, competitive process that included preparation of marketing materials, identification of potential investors, negotiations with existing private-equity firms and facilitation of the due diligence process.
Additionally, Morgan Keegan assisted On-Site in structuring, negotiating and closing the transaction.
"The team at Morgan Keegan worked diligently during the entire process to understand our business, which proved to be very valuable as interested parties became more involved," said Greg Nethery, CEO of On-Site. "They developed relationships with our management team to de-fine value for our company throughout a diverse capital landscape. As CEO and majority shareholder, I had constant contact with the managing director at Morgan Keegan through a very lengthy process with many twists and turns. They are focused professionals driving value."
The company currently operates a fleet of more than 80 fuel trucks and tankers distributing fuel along 64 delivery routes in 12 states and 30 metropolitan areas. On-Site operates 24 hours per day, delivering gasoline, diesel and alternative fuels utilizing custom-designed trucks both directly to its customers' vehicles and into fuel tanks located at its customers' facilities.
The company primarily provides truck-to-truck fueling services, bulk fuel drops and emergency fuel services to a variety of customers across the southern and western United States.
Memphis, Tenn.-based Morgan Keegan, a full-service brokerage and investment banking firm, has more than 3,100 employees in 300 offices across the country. The firm's investment banking division provides comprehensive merger and acquisition advisory, public-equity and private capital services to public and private companies as well as private-equity groups.
Morgan Keegan's Consumer & Retail Investment Banking group provides advisory and capital raising services to leading companies throughout the United States in the convenience store and wholesale petroleum industries.
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