Magna Energy Services is a diversified oil and gas services business serving Wyoming and Montana from its operations base in Gillette. Magna provides services to exploration and production companies.

In mid 2007 Cornerstone partnered with 6 independent businesses and their managers to recapitalize operations and management into a single entity, buyout non-active owners, and add a national commercial bank relationship to the capital structure.

Magna will move into a single operation headquarters in late 2008 and add a new line of business (wireline). After partnering with Cornerstone, Magna has responsibly added new capital equipment across the organization to facilitate growth. Magna is the largest independent services business based in the Powder River Basin. For more information, please visit www.magnaes.com.

Cornerstone Impact: Tom McCloskey-Director, Neville Vere Nicoll-Chairman, Chris Rockers-Director

Pegasus Tower is a privately held tower development company focused on the development, operation, ownership, and third party management of wireless communication sites throughout the United States.  Pegasus was founded by the current management team in 1999 and is based in Eastern Virginia.  Over the last 10 years Pegasus has become a leading wireless tower development company with over 120 sites completed and under management with many additional towers currently under development.

Cornerstone Holdings partnered with Highland Towers to invest $20 million into Pegasus to build over 200 new wireless communications sites over the next 4 years.  Cornerstone is an opportunistic investor and therefore in addition to Pegasus’s current organic build plans the company is also interested in tower acquisition opportunities.  

Cornerstone Impact- Neville Vere Nicoll- Chairman of Board of Directors, Thomas McCloskey – Board Observer, Chris Rockers – Board Observer