Raymond James Industrial Growth Investment Banking Group Advises Prosonic in Acquisition by Boart Longyear.

Raymond James is pleased to announce the sale of Prosonic Corporation to Boart Longyear.

Prosonic Corporation is a highly successful provider of sonic drilling services both in the United States and internationally. Headquartered in Marietta, OH and employing 250 people, Prosonic operates a diverse fleet of sonic drill rigs for customers in the environmental, water and mining industries. The company is an industry leader in deploying innovative sonic drilling techniques that provide efficient, reliable and high quality drilling services.

Boart Longyear is a portfolio company of Advent International Corporation and Bain Capital. With 2005 sales of over $1 billion, and 7,000 employees worldwide, Boart Longyear conducts contract drilling services in more than 30 countries, and provides mining products to customers in over 100 countries.

This is another successful transaction completed by Raymond James’ Industrial Growth investment banking group, which also closed the sale of Watkins Trucking to Fedex Corporation in September 2006. Raymond James represented Prosonic in this transaction.