Lion Equity Partners Completes Acquisition of UE Compression from United Holdings, a Division of Kirby Corporation
Lion Equity Partners, through its affiliate Lion Equity Holdings, LLC
(“Lion Equity”) announced that on November 1st it acquired UE
Compression (“UEC”) from United Holdings, LLC, a division of Kirby
Corporation (NYSE: KEX). UEC is an industry leading provider of custom
engineered natural gas and air compressor systems, as well as related
parts and services.
UEC, headquartered in Henderson, CO, provides custom engineered gas and
air compressor systems for use in field compression, process and fuel
gas boosting for power generation and transmission. The company has
built compression systems that have been deployed around the world for
global corporations in a variety of industries including pipelines,
energy and petroleum, and power stations.
“UEC is a leader in the compression industry with strong customer
relationships and a long-standing reputation for delivering high-quality
equipment and services,” said Ari Silverman, Partner of Lion Equity. “We
believe the company is well positioned for growth, both organically and
through prospective strategic add-on acquisitions.”
“We are very excited about our future,” UEC Chief Operating Officer,
Keith Kern said. “Our commitment to quality engineering and our reliable
service to our clients have allowed UEC to differentiate itself in the
marketplace. The combination of UEC’s technical and industry expertise
along with strategic direction and capital from Lion Equity, positions
our company extremely well for future growth and success.”
Jim Levitas, Partner of Lion Equity, added, “We look forward to working
with UEC’s management team to execute the company’s long-term growth
strategy. UEC has distinguished itself in the custom gas and air
compression industry with strong customer and vendor relationships and a
commitment to delivering a superior packaged solution.”
The terms of the deal were not disclosed.
About Lion Equity Partners:
Lion Equity Partners (www.lionequity.com)
is a Denver, CO based private investment firm focused on acquiring
controlling interests in middle-market businesses across multiple
industries. Lion Equity specializes in acquiring divisions of larger
corporations, and has significant experience in the divestiture process.
Lion Equity’s investment strategy is centered on creating value in its
portfolio companies through a combination of organic growth and add-on
acquisitions. Lion Equity supports its portfolio companies with
strategic and financial resources, operational guidance, and M&A
expertise.
About UE Compression:
UE Compression, located in Henderson, CO, provides custom air and gas
compression packages for the oil & gas industry, power plants, process
industry and the industrial marketplace, as well as for commercial and
municipal applications. UE Compression delivers complete skid-mounted
gas compressor packages, powered by electric motors or natural gas
engines from Caterpillar, Waukesha and Cummins, using top names in the
industry such as: Ariel, Frick, Cameron, Dresser Rand, Howden and
Ro-Flo. UE Compression is also a distributor for the finest products
offered in the compressed air and rotary blower business such as Gardner
Denver, Kobelco, Hydrovane, Sutorbilt, Duroflow, Cycloblower and more.
About Kirby Corporation:
Kirby Corporation, based in Houston, Texas, is the nation’s largest
domestic tank barge operator transporting bulk liquid products
throughout the Mississippi River System, the Gulf Intracoastal Waterway,
coastwise along all three United States coasts, and in Alaska and
Hawaii. Kirby transports petrochemicals, black oil, refined petroleum
products and agricultural chemicals by tank barge. Kirby also operates
offshore dry-bulk barge and tugboat units engaged in the offshore
transportation of dry-bulk cargoes in the United States coastal trade.
Through the diesel engine services segment, Kirby provides after-market
service for medium-speed and high-speed diesel engines and reduction
gears used in marine and power generation applications. Kirby also
distributes and services diesel engines, transmissions, pumps and
manufactures and remanufactures oilfield service equipment, including
pressure pumping units, for land-based pressure pumping and oilfield
service markets.
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