Edmonton’s Pipeworx added to US firm’s group of pipeline contractors
Pipeworx will be an operating unit of PLH Group Inc., an oilfield services firm.
Oil & Gas
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.
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 US pipeline construction and maintenance companies.
PLH belongs to Energy Capital Partners of Short Hills, NJ, 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.
©The Canadian Press