| Hanover Compressor Company | |||
| Ticker: | HC | 12001 North Houston Rosslyn | |
| Exchange: | New York Stock Exchange | Houston, TX 77086 | |
| Industry: | Natural Resources (SIC Code 1389) | (281) 447-8787 | |
| Type of Shares: | Common Shares | Filing Date: | 4/11/97 | |
| U.S. Shares: | 6,613,494 | Offer Date: | 6/30/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $17.00 - $19.00 | |
| Primary Shares: | 4,166,667 | Offer Price: | $19.50 | |
| Secondary Shares: | 2,446,827 | Gross Spread: | $1.32 | |
| Offering Amount: | $119,042,892 | Selling: | $0.80 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Issuer's Law Firm: | Neal Gerber & Eisenberg |
| Bank's Law Firm: | Vinson & Elkins |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $136.01 | Assets: | $341.39 | ||
| Net Income: | $10.38 | Curr Assets: | |||
| EPS: | $0.16 | Liabilities: | $164.49 | ||
| Prior EPS: | $0.31 | Curr Liabilities: | |||
| Cash Flow/Oper: | $20.28 | Equity: | $176.90 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading provider of a broad array of natural gas compression rental, operations and maintenance services in the United States and select international markets. As of December 31, 1996, the company had a fleet of 1,560 compression rental units with an aggregate capacity of 569,557 horsepower. The company's compression services are complemented by its compressor and oil and gas production equipment fabrication operations, which broaden its customer relationships both domestically and internationally. Through internal growth and a series of strategic acquisitions, the company believes it is the largest operator of rental compression horsepower capacity in the United States, controlling an estimated 20% of the domestic rental market with 1,508 rental units having an aggregate capacity of approximately 500,000 horsepower at December 31, 1996. Internationally, the company estimates it is one of the largest providers of compression services in the rapidly growing South American market, primarily in Argentina and Venezuela, operating 52 units with approximately 70,000 horsepower at December 31, 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness. |