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FINANCIAL SERVICES
Wells Fargo Alaska Commercial Banking Manager Sam Mazzeo, Peak Oilfield Service Company President Michael O’Connor, Wells Fargo Principal Business Relationship Manager Chris Horton, and Bristol Bay Native Corporation CEO Jason Metrokin after the announcement of BBNC’s acquisition of Peak, with lead financing provided by Wells Fargo.
Alaska Lenders O Finding Good Borrowers Lending opportunities present growth for Alaska businesses By Tracy Barbour 94
Alaska Business Monthly | February 2014
n October 31, Bristol Bay Native Corporation (BBNC) completed the largest, most technical transaction in its history. It acquired Peak Oilfield Service Co., thanks to commercial financing from Wells Fargo. The term loan supported a strategic acquisition for BBNC, which is owned by 9,400 Alaska Native shareholders in Southwest Alaska. BBNC has engaged in business in the oilfield service industry for a number of years and is a staunch advocate of responsible resource development. Peak—which provides field support services on the North Slope, Cook Inlet, and in North Dakota—has a strong safety culture that produces a loyal workforce and happy customers, according to BBNC President and CEO Jason Metrokin. www.akbizmag.com