Oilfield-Electric-Marine, Inc. (“OEM”) of Houston, Texas, and its affiliate, Industrial Logic Systems, Inc., located in Brea, California, are engaged in the manufacture and service of electrical power and switching equipment for the oilfield, dredging and marine industries.

OEM’s owner and Chief Executive, Mr. Kevin Williams, was approached by Rowan Companies, Inc., through their manufacturing subsidiary, LeTourneau, Inc. Rowan was interested in supplementing its capabilities in drilling rig construction, particularly with the AC electric motors and drives of OEM.

Due to the dramatic growth that OEM had undergone over the past year, Rowan engaged DAG to recommend a fair and reasonable purchase price for the Company. DAG spent considerable time with the management of OEM, and reviewed historical and projected performance. Financial models were prepared and reviewed with Rowan management. Finally, a formal recommendation was submitted to Rowan and the transaction was successfully completed, at a value and structure that was fair to both parties.

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