Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 January 14, 2016 - 8:30 AM EST
Print Email Article Font Down Font Up
Cross Country Pipeline Supply Grows Considerably And Enters New Markets Through Three Acquisitions

Acquires N2, Stone Pump & Trench and Pipeliner's Warehouse

AURORA, Colo., Jan. 14, 2016 /PRNewswire/ -- Cross Country Pipeline Supply Co., Inc. ("Cross Country"), a leading provider of equipment, supplies and integrity services to the midstream energy and general infrastructure markets, announced today that it has made three acquisitions that diversify its interests and continue its strong pattern of growth. Financial terms of the transactions were not disclosed.

Cross-Country has acquired the following businesses:

  • N2, a Midland, Texas-based provider of nitrogen generation and other integrity testing services to pipeline contractors and operators in the United States founded by 30-year industry veteran Ron Booth who will continue to lead the business as part of Cross Country;
  • Stone Pump & Trench ("Stone"), a Knoxville, Tennessee-based provider of liquid handling, transfer pumps and trench safety equipment to a variety of infrastructure contractors and operators in the utility, municipal and general construction industries based in the southeastern United States. Stone expands Cross Country's pump business, which it has operated since acquiring Power Associates International in 2013; and
  • Pipeliner's Warehouse Inc. ("PWI"), a Houston, Texas-based provider of consumable pipeline construction supplies to the U.S. midstream market with a strong presence across the Gulf Coast. Jered Ramsey, General Manager of PWI, will continue to lead the business as part of Cross Country

Gerry Plescia, CEO of Cross Country, said, "The acquisitions of these three excellent businesses enable Cross Country to continue its strong growth trajectory in recent years. Through the additions of N2, Stone and PWI, we will grow in areas where we have operated historically – pipeline construction rental, integrity rental and supply sales – and diversify our capabilities to serve customers in the broader infrastructure rental and service market, which includes integrity services, utility rental and site services. We are pleased to welcome the employees of these well-regarded businesses to Cross Country and look forward to working together to build our company and provide a wider range of high-quality equipment, services and supplies to current customers and new ones."

About Cross Country Pipeline Supply Co.
Cross Country is a leading provider of equipment, supplies and integrity services for the midstream energy and general infrastructure markets. The Company is based in Aurora, Colorado, with 17 branches in the U.S. and Canada. Cross Country is a portfolio company of Odyssey Investment Partners, LLC. For more information please visit www.ccpipeline.com.

Contact:

Mark Semer / Ross Lovern


Kekst


(212) 521-4800

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cross-country-pipeline-supply-grows-considerably-and-enters-new-markets-through-three-acquisitions-300204373.html

SOURCE Cross Country Pipeline Supply Co., Inc.


Source: PR Newswire (January 14, 2016 - 8:30 AM EST)

News by QuoteMedia
www.quotemedia.com