In a statement, PLH Group Inc disclosed that it acquired Pipeworx Ltd. with support from private equity firm Energy Capital Partners. Financial terms of the deal were not disclosed.
PLH Group, Inc is part of the portfolio of the private equity firm Energy Capital Partners. Pipeworx Ltd is a leading contractor for pipelines in Western Canada.
The acquisition will formally take effect on the 16th of April 2013 and part of the acquisition would be the subsidiaries of Pipeworx of four offices and headquarters at the Edmonton and Alberta area. Pipeworx will be the operating division of PLH. Its existing senior management including its employees will remain in the company.
President and CEO of PLH Mark Crowson said, "Canada and Western Canada in particular, presents significant emerging and long-term opportunities for PLH and the pipeline infrastructure services market as a whole."
He added, "This strategic addition to PLH significantly expands our geographic footprint in North America, and we are pleased to welcome Pipeworx to the PLH platform."
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