Houston, Texas | October 5, 2007
Freestone Partners, LLC, announced that it has partnered with company management to acquire P.A. Inc. (PAI). PAI is a Houston-based specialty distributor of nickel alloy pipe, tubing, fittings and flanges. PAI sells its products worldwide to maintenance, repair and operations distributors, pipe fabricators, engineering and construction companies, and end-users in the chemical and petrochemical industries. A Freestone Partners spokesman commented, PAI is a focused, service-oriented company with first-rate suppliers and customers and a highly-experienced, dedicated management team. We are delighted to partner with management in this investment. Lenders providing financing for the transaction include PNC Business Credit, Capital Point Partners and Stonehenge Capital.