BDO Capital Advisors Announces the Management Buyout of Warner Holdings

Boston, MA - March 30, 2015 - BDO Capital Advisors, LLC is pleased to announce that The Zabel Companies has funded the management buyout of Warner Holdings, LLC from MDU Resources, Inc. (NYSE: MDU). Headquartered in Las Vegas, Nevada, Warner Holdings, LLC, doing business as Energy Electrical Distribution (“EED”) and Sun Valley Electric Supply Company (“SVE”), is a wholesale distributor of electrical supplies and equipment to the oil and gas infrastructure and construction markets. EED/SVE offers a full line of products from industry leading OEM’s operating out of five branch locations in Nevada, Texas, New Mexico and North Dakota.

As the exclusive financial advisor to the management team of EED/SVE, BDO Capital negotiated the transaction terms with MDU Resources, prepared a confidential offering memorandum, identified and contacted a targeted group of potential investors and assisted the management team in the closing of the transaction.

Steve LaTorra, the President of EED/SVE, made an equity investment in the transaction and will remain President. “We look forward to continuing the success of the business with the support of our new equity sponsor and we are pleased to have the financial flexibility to execute on our future growth plans,” said Mr. Latorra.

BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.

The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.