Allegiance Capital executed a complex M&A sales transaction that took Energy Deal of the Year honors in the annual New York Champions M&A competition. The competition is directed by the ACG New York Chapter and recognizes outstanding dealmakers and transactions in the middle-market mergers and acquisitions industry.

Allegiance Capital directed the sale of Otis Eastern Services, a leading U.S. pipeline contractor headquartered in Western New York, to Tulsa-based Argonaut Private Equity, the private equity division of George Kaiser’s family office. Financial terms of the deal were not disclosed.

“We are extremely proud and honored to receive the Energy Deal of the Year award for this transaction,” stated David Mahmood, chairman and Founder of Allegiance Capital. “This was a very complicated deal with numerous challenges along the way, but our bankers did a great job of overcoming issues, identifying the perfect buyer, and getting the deal closed.”

John Sloan, vice chairman at Allegiance Capital, led the winning deal team. “Bill van Wagner, my partner during the transaction, and I are honored to receive this award. This was a challenging transaction that truly demonstrated the capabilities of Allegiance Capital to close a complex transaction and meet both the buyer’s and seller’s expectations. It was a privilege to serve the owners of Otis Eastern and to work with the great team at Argonaut Private Equity.”

The Allegiance Capital transaction was one of 38 winners that competed against hundreds of initial nominees. More than 200 attended the ACG New York Champions Awards gala at the Metropolitan Club in New York for the awards dinner and ceremony.

“We celebrate outstanding individuals, firms, and transactions that have helped drive America’s middle market,” said Martin Okner, president of ACG New York. “In so doing, we also recognize middle-market private capital’s important contribution to our national well-being. The middle market accounts for over 43 million U.S. jobs and 33% of U.S. GDP.”

“Allegiance Capital was chosen from over 350 nominating companies to receive the award. It gives us great pleasure to recognize Allegiance Capital and bestow upon you our highest honor for M&A firms and professionals,” said David Fergusson, president, The M&A Advisor. “Allegiance Capital represents the best of the M&A industry in 2014 and earned these honors by standing out in a group of very impressive finalists.”