BOSTON, March 17, 2025 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Solaris Energy Infrastructure, Inc. (NYSE:SEI) for potential securities law violations. Investors who have lost money in their Solaris Energy Infrastructure, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/sei. What is this all about? Shares of Solaris Energy Infrastructure, Inc. are down more than 15% in intraday trading followin ...

BOSTON, March 17, 2025 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Solaris Energy Infrastructure, Inc. (NYSE: SEI) for potential securities law violations. Investors who have lost money in their Solaris Energy Infrastructure, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/sei. What is this all about? Shares of Solaris Energy Infrastructure, Inc. are down more than 15% in intraday trading followi ...

TORONTO, March 17, 2025 (GLOBE NEWSWIRE) -- Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) (“Sintana” or the “Company”) provides the following update regarding developments associated with blocks 2713A and 2713B located in Namibia’s Orange Basin. The blocks are governed by Petroleum Exploration License 87 (“PEL 87”) which is operated by Pancontinental Orange Pty Ltd., a subsidiary of Pancontinental Energy NL (ASX:PCL) (“Pancontinental”), who maintains a 75% interest in PEL 87. Additionally, Custos Investmen ...

Leading Global Investment Providers Expand Strategic Partnership to Launch All-ETF Model PortfoliosOAKS, Pa., March 17, 2025 /PRNewswire/ -- SEI® (NASDAQ:SEIC) today announced the launch of SEI Strategies with Capital Group®, a new lineup of model portfolios that complements its existing suite of core building block solutions for investor portfolios. The new models are comprised entirely of exchange-traded funds (ETFs), combining SEI's disciplined and strategic approach to asset allocation and portfolio con ...

Financial Performance - Total revenue for the year ended December 31, 2024, was $313.1 million, an increase from $292.9 million in 2023, representing a growth of 6.4%[325]. - Service revenue decreased to $263.2 million in 2024 from $269.5 million in 2023, a decline of 2.4%[325]. - Net income attributable to Solaris Energy Infrastructure, Inc. was $15.8 million for 2024, down from $24.3 million in 2023, a decrease of 35.5%[325]. - Operating income for 2024 was $52.8 million, an increase from $49.9 million in 2023, reflecting a growth of 4.0%[325]. - The company reported a basic earnings per share of $0.51 for Class A common stock in 2024, down from $0.78 in 2023[325]. - Net income for the year ended December 31, 2024, was $28,918,000, a decrease of 25.5% from $38,775,000 in 2023[329]. - Operating cash flow for 2024 was $59,367,000, down from $88,261,000 in 2023[329]. - Total revenues for 2024 reached $313.1 million, an increase from $292.9 million in 2023, representing a growth of 6.8%[418]. - Solaris Logistics Solutions generated $274.5 million in revenue, down from $292.9 million in 2023, a decrease of 6.3%[418]. - Solaris Power Solutions reported $38.6 million in revenue for 2024, with no revenue reported in 2023[418]. - Adjusted EBITDA for total segments increased to $124.4 million in 2024 from $115.1 million in 2023, a growth of 8.9%[420]. Acquisition and Growth - The acquisition of Mobile Energy Rentals LLC was completed for a total purchase consideration of $323.1 million, which included $65.9 million allocated to intangible assets related to customer relationships[305]. - The acquisition of Mobile Energy Rentals, LLC (MER) on September 11, 2024, constituted 48% of total assets and 12% of total revenues for the year ended December 31, 2024[316]. - The company completed the acquisition of MER for a total purchase consideration of $323.1 million, which included $186.4 million in equity consideration and $136.7 million in cash[400]. - The acquisition of MER is expected to enhance capabilities in providing mobile, configurable equipment solutions and logistics services across various industries[399]. - The company has re-evaluated its reportable segments post-MER acquisition, now reporting two distinct business segments based on revenue-generating activities[414]. Financial Obligations and Risks - The company incurred a senior secured term loan of $325 million to fund the MER Acquisition, along with a new revolving credit facility of up to $75 million[138]. - The financing agreements impose significant financial covenants, including restrictions on incurring additional debt and maintaining certain leverage and fixed charge coverage ratios[139]. - Future ownership changes or changes to U.S. tax laws could limit the company's ability to utilize its NOLs, adversely affecting operating results and cash flows[137]. - The company may incur additional indebtedness in the future, which could limit operational flexibility and increase the risk of defaults under financing agreements[138]. - Solaris Inc. expects substantial payment obligations under the Tax Receivable Agreement, with estimated termination payments of approximately $115.6 million if terminated immediately after the filing of the Annual Report[180]. - The liability under the Tax Receivable Agreement (TRA) was $77.3 million, representing 85% of anticipated net cash savings from tax benefits[308]. - The company’s payment obligations under the Tax Receivable Agreement are not contingent upon the continued ownership interest of TRA Holders, which may create conflicts with Class A common stockholders[183]. Market and Regulatory Environment - The company is subject to stringent environmental and occupational health and safety laws, which may expose it to significant costs and liabilities[143]. - Increased attention to environmental, social, and governance (ESG) matters may lead to reduced demand for hydrocarbon products and increased costs for the company[146]. - The company faces risks related to potential regulatory changes regarding hydraulic fracturing, which could limit future oil and natural gas exploration and production activities[141]. - The company is exposed to potential litigation risks related to ESG commitments and may face increased scrutiny from regulatory bodies regarding its environmental practices[151]. Stockholder and Corporate Governance - Significant stockholders, including Yorktown and legacy equity holders of MER, collectively hold about 41% of the voting power, which could influence management decisions and deter hostile takeovers[163]. - The amended and restated certificate of incorporation allows for the issuance of preferred stock, which could impact the value of Class A common stock[167]. - Certain directors and officers may have conflicts of interest due to their responsibilities with competing entities, potentially affecting business opportunities[166]. - The exclusive forum provision in the amended and restated certificate of incorporation may limit stockholders' ability to bring claims in favorable jurisdictions[172]. - Solaris Inc. is dependent on distributions from Solaris LLC to cover taxes and corporate expenses, which could materially affect its liquidity and financial condition[156]. Cash and Assets - The company's cash and cash equivalents increased significantly to $114.3 million in 2024 from $5.8 million in 2023[323]. - Total assets rose to $1.1 billion as of December 31, 2024, compared to $468.3 million in 2023, marking a growth of 139.0%[323]. - Total cash and cash equivalents at the end of 2024 increased to $159,867,000 from $5,833,000 at the beginning of the period[330]. - Total segment assets increased to $907.0 million in 2024 from $401.1 million in 2023, reflecting significant growth[424]. Internal Controls and Compliance - Solaris Inc. is subject to compliance with the Sarbanes-Oxley Act, which may strain resources and increase costs, potentially distracting management from core operations[185]. - Solaris Inc. may face challenges in maintaining effective internal controls over financial reporting, which could lead to errors in financial statements and affect investor confidence[187]. - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the audit opinion[312].

Core Viewpoint - SEI Investments Co. has agreed to divest its Family Office Service operations to Acquiline Capital Partners for $120 million, aligning with its strategy to focus on higher growth areas and enhance profitability [1][4]. Group 1: Details of the Divestiture - SEI's Family Office Services business provides technology and outsourced solutions for family offices and financial intermediaries through the Archway Platform, which integrates accounting, investment management, and reporting functions [2]. - The family office business will continue to operate as Archway post-transaction, with employees from SEI's Indianapolis, Denver, and Oaks offices transitioning to Aquiline [3]. - The deal is expected to be completed in late Q2 2025, pending regulatory approvals [3]. Group 2: Strategic Implications - Sandy Ewing, Head of SEI's Family Office Services, emphasized the commitment to invest in growth areas, highlighting past investments in the family office segment [4]. - SEI has recently launched depository services for Luxembourg alternative investment funds and acquired LifeYield to improve multi-account tax management [4]. Group 3: Market Performance - SEI Investments' shares have increased by 17.5% over the past six months, outperforming the industry growth of 11.3% [6].

Core Viewpoint - Aquiline has entered into a definitive agreement to acquire SEI's Family Office Services business for $120 million, which will operate under the Archway brand after the transaction closes in late Q2 2025, pending regulatory approval [1][5]. Company Overview - Aquiline is a private investment firm focused on financial services and technology, managing approximately $11.3 billion in assets as of September 30, 2024, and has deployed around $7.0 billion across private equity, venture, and credit strategies [7]. - SEI is a global provider of financial technology, operations, and asset management services, managing, advising, or administering approximately $1.6 trillion in assets as of December 31, 2024 [9]. Business Operations - SEI's Family Office Services business provides technology and outsourced services that enhance accounting, investment management, and reporting functions for family offices, with $723 billion in assets on the Archway Platform as of December 31, 2024 [2][6]. - The Archway Platform is recognized for its advanced financial reporting capabilities tailored for ultra-high-net-worth families, streamlining family office operations [2][3]. Strategic Intent - Aquiline aims to invest further in the Archway Platform to enhance its capabilities and accelerate growth within the private wealth landscape [3][5]. - SEI has committed to investing in growth areas of its business, having made substantial investments in solutions for the family office segment over the past seven years [4].

Core Insights - SEI has announced the expansion of Sean Denham's role to Chief Financial and Chief Operating Officer (CFO/COO), enhancing the company's strategic alignment for growth [1][3] - Denham will oversee daily global operations, including investment operations, procurement, marketing, and talent management, as well as the company's technology strategy [2][4] - CEO Ryan Hicke emphasized the company's focus on evolving to drive growth and optimizing the operating model, reflecting a commitment to maximizing return on invested capital [3][4] Company Overview - SEI is a leading global provider of financial technology, operations, and asset management services, managing approximately $1.6 trillion in assets as of December 31, 2024 [5] - The company tailors its solutions to help clients effectively deploy capital, enhancing their ability to serve clients and achieve growth objectives [5] Leadership Background - Sean Denham joined SEI in March 2024 and has a background of 20 years in leadership roles at Grant Thornton, including serving as regional managing partner and national audit growth leader [4] - Denham is a Certified Public Accountant with a bachelor's degree in accounting from Lehigh University [4]

Core Insights - Sintana Energy Inc. has provided an update on its exploration activities in Namibia's Orange Basin, specifically regarding the second campaign on blocks 2813A and 2814B under Petroleum Exploration License 83 (PEL 83) [1][2] - The Mopane-3X well has been successfully drilled, confirming significant columns of light oil and gas-condensate in high-quality sandstones [3][4] - The company holds a 49% indirect interest in Custos Energy, which has a 10% working interest in PEL 83, alongside NAMCOR's 10% interest [1][2] Exploration and Development - The Mopane-3X well targeted two stacked prospects and a deeper sand at approximately 1,200 meters water depth, with preliminary data indicating good reservoir characteristics [3][4] - Initial fluid samples from the well show low oil viscosity and minimal concentrations of CO2 and H2S, with further lab testing underway [4] - A proprietary 3D seismic acquisition campaign is on track for completion in Q1 2025, with data processing to follow [5] Management Commentary - The CEO of Sintana, Robert Bose, highlighted the scale and quality of the Mopane complex, emphasizing the company's strong position in the region [6] - Knowledge Katti, Chairman and CEO of Custos, noted the significance of the stacked discoveries in showcasing the potential of the Mopane complex [7] Company Overview - Sintana Energy is engaged in petroleum and natural gas exploration and development across six large, highly prospective exploration licenses in Namibia and Colombia's Magdalena Basin [8]

Core Viewpoint - SEI Investments (SEIC) is positioned for growth due to its global presence, solid assets under management (AUM), strategic acquisitions, and technological innovations, although it faces challenges from rising expenses and high reliance on fee-based revenues [1]. Tailwinds for SEIC - SEIC has shown impressive revenue growth with a compound annual growth rate (CAGR) of 5.2% over the five years ending in 2024, while total AUM, advisement, and administration experienced a CAGR of 8.2% during the same period [2]. - The company has been actively expanding through acquisitions, including LifeYield in December 2024 to enhance multi-account tax management, and other buyouts like Altigo and National Pensions Trust, which are expected to support top-line and AUM growth [3]. - Revenue and total assets are projected to grow at a CAGR of 5.6% and 3.5%, respectively, by 2027 [4]. - SEI Investments relies heavily on technology, with its primary business platform, Investment Processing, generating revenues through TRUST 3000 and the SEI Wealth Platform (SWP), which saw a CAGR of 5.5% over the five years ending in 2024 [5]. - Strategic acquisitions of technology platforms like Oranj, Finomial, and Novus are enhancing SEI's technological capabilities, with information processing and software servicing fees expected to grow at a CAGR of 6.6% by 2027 [6]. - As of December 31, 2024, SEIC's total debt was $51.2 million, significantly lower than cash and cash equivalents of $839.9 million, indicating strong liquidity to meet near-term obligations [7]. - The company has raised its semi-annual dividend by 6.5% in December 2024, following a 7% increase in December 2023, and has a share repurchase plan with approximately $169.6 million remaining for authorization [8]. - Over the past six months, SEIC shares have gained 19.3%, outperforming the industry’s 12.8% increase [9]. Headwinds for SEI Investments - Rising expenses are a concern, with total expenses having a CAGR of 5.8% over the last five years, primarily due to increased compensation and data processing costs [10]. - The company anticipates continued inflationary pressure on personnel costs, with total expenses projected to grow at a CAGR of 6.2% by 2027 [11]. - SEIC has significant reliance on fee-based revenues, which accounted for 78.9% of total revenues in 2024 and 2023, and is expected to contribute 78.5% in 2025, making it vulnerable to market fluctuations and regulatory changes [12].