Alta.’s Pipeworx added to US firm’s group of pipeline contractors
by The Canadian Press
Energy Capital Partners says acquisition gives it presence in Western Canada
IRVING, Texas—Private equity firm Energy Capital Partners is continuing its move into the oilfield services sector with the acquisition of Canadian pipeline contractor Pipeworx Ltd.
The deal was done through PLH Group Inc., an EC Partners company, which said Edmonton-based Pipeworx gives it a presence in Western Canada as part of a North American strategy.
PLH announced the purchase but didn’t release financial details.
“Canada, and Western Canada in particular presents significant emerging and long-term opportunities for PLH and the pipeline infrastructure services market as a whole,” said Mark Crowson, PLH president and CEO.
“This strategic addition to PLH significantly expands our geographic footprint in North America and we are pleased to welcome Pipeworx to the PLH platform.”
The company said Pipeworx will be an operating unit of PLH, and its current senior management and employees will remain in place.
Formerly called Power Line Holdings Inc., PLH changed its name in January after buying three specialty U.S. pipeline construction and maintenance companies.
PLH belongs to Energy Capital Partners of Short Hills, N.J., which is focused on North American energy infrastructure such as power generation, electric transmission and gas storage and pipelines.
PLH Group acquired Southeast Directional Drilling LLC, M&M Pipeline Services and Energy Services South LLC last year.
The three companies are based in Arizona, Mississippi and Alabama, respectively.
