Brown & Root acquires MEI Group LLC
BATON ROUGE, La. â Brown & Root Industrial Services LLC has acquired MEI Group LLC, a full-service turnaround specialist for industrial facilities globally.
âMEI is a perfect fit for Brown & Root,â said Andy Dupuy, Brown & Rootâs president/ CEO. âTheir offering complements our existing portfolio, bringing a new level of expertise, scale and reach to our Turnaround Services business. The acquisition will better position us as the leading services provider in the industry, allowing us to better serve our customers and drive growth across our business lines.â
This is the third recent acquisition for Brown & Root. With the acquisition of MEI, Brown & Root has grown to more than 8,500 employees in more than 100 locations nationwide.
Michael Campesi, MEI group CEO said, âThe management and employees of MEI are proud and excited to become part of Brown & Root, one of the most widely respected names in industrial contracting since 1919. By aligning our skills and industry expertise, we are able to offer our clients superior services. I look forward to this new chapter for our business.â
For more information, visit www.brownandroot.com or call (225) 778-7655.
Industry leaders WTMC, CRG merge to form Onpoint
HOUSTON â Creative Resource Group (CRG) and the Worldwide Turnaround Management Company (WTMC) merged the two companies to form a new company, Onpoint, effective Jan. 1. WTMC will continue operating as WTMC, An Onpoint Company.
Onpoint improves project execution, reduces HS&E risk and lowers turnaround costs for plant owners. It does this by partnering with turnaround and maintenance managers to supply proven planning and execution services, training on best practices and to implement safe, efficient work processes. Onpoint brings the resources and know-how to deliver turnarounds on time and on budget.
Through this merger, Onpoint immediately establishes itself as a leading provider of project controls personnel, logistics, safety, personnel transportation, facility support, maintenance, training and consulting.
For more information, visit www.onpoint-us.com or call (800) 639-1347.
Safway® Group acquires global suspended access leader SafeWorks
WAUKESHA, Wis. â In a move toward continued growth and expansion of its suspended access business, Safway® Group has acquired SafeWorks LLC, a global leader with highly recognized brands, including Spider®, Power Climber® and Power Climber Wind® products.
Headquartered in Seattle, SafeWorks provides motorized suspended access equipment sales, rental, services and support through 25 company branch locations in the Americas and a global dealer network. The company has manufacturing facilities in the U.S., South America and Europe.
Safway has acquired 14 companies over the past six years as part of its strategy to expand service offerings in core target markets: energy and industrial (refineries, petrochemical, power and infrastructure) as well as commercial restoration, refurbishment and new construction.
For more information, visit www.safwaygroup.com or call (800) 558-4772.
Acquisition of Seal Industries positions PSC as national leader
HOUSTON â PSC Industrial Outsourcing LP has acquired Seal Industries Inc. (Guardian/Seal Tech).
Combined with PSCâs vapor control services, the Guardian/Seal Tech acquisition will position PSC as a leading provider of emissions management services, offering high-level visibility, control, reporting and accountability to reduce all plant emissions. In addition to its expanded offerings in emissions management, this acquisition will also allow PSC to perform all compliance- related monitoring and reporting.
For more information, visit www.pscnow.com or call (713) 623-8777.
American Midstream, JP Energy merge in $2 billion deal
HOUSTON â American Midstream Partners LP and JP Energy Partners LP have executed a merger agreement to create a combined midstream platform. American Midstream will acquire 100 percent of JP Energy in a unit-for-unit merger anticipated to have minimal if any tax recognition for unitholders. Upon closing, the combined entity is expected to generate pro-forma adjusted EBITDA of approximately $185 million, assuming 2016 midpoint guidance from each company and including run-rate synergies of approximately $10 million.
The merger will create a diversified midstream business operating in leading North American basins, including the Permian, Gulf of Mexico, Eagle Ford and Bakken. The combined partnership will have an estimated enterprise value of $2 billion.
For more information, visit www.americanmidstream.com or call (713) 815-3900.
Contanda LLC acquires Inbesa America Inc.
HOUSTON â Contanda Steel LLC â a wholly owned subsidiary of Contanda LLC (formerly Westway Group LLC) â has acquired all assets and operations of Inbesa America Inc.
Contandaâs President and CEO G.R. âJerryâ Cardillo said, âWe are excited to have acquired the assets and operations of Inbesa, which perfectly complement Contandaâs current offerings and operating philosophy. As Contanda continues to bolster its focus and service base, we will draw upon Inbesaâs superior assets and capabilities.â
Contanda will continue to offer the complete turnkey operations that Inbesaâs customers have come to rely on. Carmen Geiger and Armando Waterland, current CEO and president of Inbesa, respectively, will continue to have leadership roles and work closely with Contandaâs management team.
For more information, visit www.contanda.com or www.inbesa.com.
Linde, Praxair to combine in merger of equals
MUNICH, Germany and DANBURY, Conn. â Linde AG and Praxair Inc. intend to combine in a merger of equals under a new holding company through an all-stock transaction. The companies have signed a nonbinding term sheet and expect to execute a definitive business combination agreement as soon as practicable.
Based on 2015 reported results, the combination would create a company with pro forma revenues of approximately $30 billion, prior to any divestitures, and a current market value in excess of $65 billion. The transaction would unite Lindeâs long-held leadership in technology with Praxairâs efficient operating model, creating a global leader.
For more information, visit www.praxair.com or call (800) PRAXAIR [772-9247].
Buckeye Partners to acquire 50-percent interest in VTTI B.V.
HOUSTON â Buckeye Partners LP has signed a definitive agreement to acquire a 50-percent equity interest in VTTI B.V., a company that will be jointly owned with Vitol, for $1.15 billion. VTTI is one of the largest independent global marine terminal businesses and, through its subsidiaries and partnership interests, owns and operates approximately 54 million barrels of petroleum products storage across 13 terminals located on five continents. At press time, the transaction was expected to close by February.
Buckeye and Vitol will have equal board representation and voting rights in VTTI following the closing of the transaction. VTTI will continue to operate as a stand-alone entity, and its existing management team and employees will remain in place to operate the assets.
For more information, visit www.buckeye.com or call (832) 615-8600.
Gulfport Energy enters SCOOP play with 85,000-acre acquisition
OKLAHOMA CITY â Gulfport Energy Corp. has entered into a definitive agreement with Vitruvian II Woodford LLC, a portfolio company of Quantum Energy Partners, to acquire approximately 46,400 net surface acres in the core of the SCOOP, including approximately 183 million cubic feet equivalent per day of net production, for a total purchase price of $1.85 billion.
The substantially contiguous acreage position totals approximately 85,000 net effective acres. The transaction also includes 48 producing horizontal wells and an additional interest in over 150 non-operated horizontal wells. Four rigs are currently operating on the acreage, and Gulfport intends to add an additional two rigs at the beginning of 2018.
For more information, visit www.gulfportenergy.com or call (405) 848-8807.
Sunoco Logistics to acquire Energy Transfer Partners
NEWTOWN SQUARE, Pa. And DALLAS â Sunoco Logistics Partners LP (SXL) and Energy Transfer Partners LP (ETP) have entered into a merger agreement providing for the acquisition of ETP by SXL in a unit-for-unit transaction. The transaction was approved by the boards of directors and conflicts committees of both partnerships and is expected to close in the first quarter of 2017, subject to receipt of ETP unitholder approval and other customary closing conditions.
For more information, visit www.sunocologistics.com or call (281) 637-6200.
