HONG KONG, Dec 20, 2012 - (ACN Newswire) - Following a recently announced business merger between Empeiria Acquisition Corp. (OTC BB: EPAQ; EPAQW; EPAQU) ("EAC" or the "Company") and Integrated Drilling Equipment Company Holdings Inc. ("IDE"), IDE merged with and into IDE Acquisition Co., LLC ("Merger Sub"), with Merger Sub becoming a wholly owned subsidiary of EAC and to be later renamed Integrated Drilling Equipment Company Holdings, LLC.
Newly appointed Chief Executive Officer and Director of the combined company, Stephen Cope said, "We believe the fragmented nature and attractive valuations in our industry make this an opportune time to pursue acquisitions in the oilfield services and equipment sector. By merging with EAC, we not only leverage a public company platform to increase access to capital, but we also gain EAC's transactional expertise to help us take advantage of opportunities in our space."
European American Equities (EAE), a wholly owned subsidiary of TerraNova Capital Partners and the U.S. based member of Global Alliance Partners (GAP), acted as the Advisor to IDE.
Mr. John P. O'Shea, Chairman of both EAE and GAP, expressed delight saying, "What a great way to wrap up the year! This deal is the second in a row that we have successfully closed lately. We are proud of both projects and we look to a more energized next year."
A few days ago, it was also announced that EAE served as the exclusive agent for a publicly listed manufacturing company that has entered into a successful Equity Line Agreement with a New York based investor.
Forward-Looking Statements
In addition to historical information, this release may contain a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "expect," "project," "intend," "plan," "believe," and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. Forward-looking statements relating to the proposed transaction include, but are not limited to: statements about the benefits of the merger; the combined company's plans, objectives, expectations and intentions; and other statements relating to the transaction that are not historical facts. Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties. There can be no assurance that actual results will not materially differ from expectations. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements. Additional risks and uncertainties are identified and discussed in EAC's reports filed with the SEC and available at the SEC's website at www.sec.gov. Forward-looking statements included in this release speak only as of the date of this release. EAC undertakes no obligation to update its forward-looking statements to reflect events or circumstances after the date of this release.
About IDE
Integrated Drilling Equipment Company Holdings Inc. ("IDE") and its predecessor companies have been active in providing services and products to the drilling industry since 1981. IDE's principal service and product offerings consist of the construction of new land rigs based on IDE designs or customized to customers' specifications; providing extensive reconfiguration and refurbishment services for land rigs to repair and extend their life or to adapt them for different drilling environments; providing offshore rig upgrade packages, refurbishment services, and related components for offshore newbuild rigs; supplying integrated electrical systems and control systems for a wide range of land and offshore drilling rigs; and providing engineered hydraulic rig solutions. For more information on IDE, please visit: http://www.ide-rig.com/
About EAC
EAC was formed on January 24, 2011 for the purpose of acquiring one or more operating business or assets through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction (an "initial business transaction"). The merger with IDE constituted EAC's initial business transaction.
About European American Equities Inc (EAE)
EAE, an investment banking firm established in 1999, provides services to public and private companies worldwide, with expertise in energy and mining, alternative energy and clean technologies, telecommunications, and emerging markets. EAE has extensive experience assisting clients with private placements, mergers and acquisitions, restructurings and other corporate advisory services. EAE is a founding member of Global Alliance Partners (GAP), a Hong Kong registered network organization of mid-tier investment banks, securities brokers, research houses, financial advisors, and wealth and asset managers, who provide their clients with international access to the world's financial markets. European American Equities, Inc. is a licensed broker-dealer and member of FINRA.
Contact:
Mr. John P. O'Shea
Chairman of Global Alliance Partners and Co-Chairman of
European American Equities
100 Wall Street, 7th floor
New York, NY 10005
Tel: +212-878-6532
Fax: +212-878-6598
Mobile: +212-495-9234
Email:joshea@globalalliancepartners.com
Mr. John Steinmetz
Chairman
TerraNova Capital Partners, Inc.
European American Equities, Inc.
350 Madison Avenue, 8th Floor
New York, NY 10017
Tel: +212 381 7390 x 2 NYC office
Tel: +860 824 8497 CT office
Fax: +212 381 7399 NYC
Email: jsteinmetz@euroamequities.com
Ms. Coy Roldan
Group Marketing & Communications Director
Global Alliance Partners
18-19 Floors, AON China Building
# 29 Queen's Road Central
Hong Kong SAR
Tel: +852 2217 2891
Mobile: +852 9707 9889
Email: coyroldan@globalalliancepartners.com
Topic: Press release summary
Source: Global Alliance Partners
Sectors: Daily Finance, Daily News
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