Philadelphia-based L.B. Foster Company acquired pipe coatings firm Ball Winch Pipeline Services LLC. This was according to a report published by the Wall Street Journal today.
L.B. Foster is a company that manufactures, fabricates, and distributes products and services in line with construction and energy industries. It caters mostly to markets in Europe and North America, according to its company website.
Ball Winch Pipeline Services is a private company that applies custom coatings and provides field services. It also caters to companies in the energy and utility industries. The Texas-based pipeline firm was established in 2005, according to its company profile.
"Ball Winch complements and expands our business opportunities with custom coating and field applied coating services. We welcome the Ball Winch team and look forward to their contribution to L.B. Foster," said L.B. Foster's President and Chief Executive Officer Robert Bauer.
Ball Winch sought advice from Oklahoma-based ClearRidge, LLC regarding the acquisition deal, the report said.
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