Denver, CO (May 12, 2016) - Headwaters MB announced today that it advised NANA Development Corporation on the sale of Nana Oilfield Services (NOSI) to Saltchuk Resources. NOSI is a distributor of bulk fuels and lubricants to oil & gas and mining companies in Alaska.

NOSI is uniquely positioned as one of two fuel distributors currently operating on Alaska’s North Slope. The Company also distributes fuel to the Red Dog mine, one of the world’s largest zinc deposits. NOSI will be a significant add on to Saltchuk’s current petroleum product distribution and marketing platform, North Star Petroleum (NSP). NSP is the largest petroleum product and lubricant distributor in Alaska, and NOSI’s fuel storage and distribution capabilities and relationships on the North Slope will be highly complementary to their business.

Peter Reckmeyer, Senior Vice President & Chief Legal Officer of NANA Development Corp., said “We were extremely pleased with the job Headwaters did for NANA – getting us excellent value, working through some complex issues, and closing the deal quickly. We’re very happy with the result.” 

Ted Kinsman, Managing Director of Headwaters’ Energy & Natural Resources group, commented, “Fuel storage capacity on the North Slope is an essential asset for companies operating in oil development and exploration, which ultimately drove a healthy valuation for NANA Development Corporation.”

Burke Smith, Managing Director of Headwaters’ Transportation & Logistics group, added, “Under the best of circumstances, bulk fuel distribution is operationally intense, even more so in a rugged environment like the Dalton Highway and North Slope. Scale drives value in this business, a dynamic at play here, and more broadly in the ongoing industry consolidation.”


About Headwaters MB
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named "Investment Bank of the Year" by major organizations for its third consecutive year, Headwaters MB is headquartered in Denver, CO with seven regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit

About Nana Oilfield Services, Inc.
NOSI delivers fuel, water, and lubricants primarily to North Slope oil and gas operators. The Company has served the North Slope for over 35 years. NOSI also delivers fuel to the Red Dog zinc mine, located near Kotzebue in Northwest Alaska. For additional information, visit

About Saltchuk Resources
Through its subsidiaries, Saltchuk provides air cargo, domestic and international shipping and logistics, marine, petroleum and trucking services in North America. Foss, TOTE, Carlile, Interstate Distributor, Northern Aviation Services, Tropical Shipping and North Star Petroleum represent the seven key subsidiaries making up Saltchuk. The Company is headquartered in Seattle, Washington. For additional information, visit


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