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Friday, 3 February 2017

Brenntag acquires GEG’s chemical services business in US

MULHEIM, GERMANY: Brenntag AG has completed the acquisition of the pipeline and chemicals services business segment of Greene’s Energy Group LLC (GEG), a leading provider of integrated solutions for the oil & gas (O&G) industry in US.  
Headquartered in Houston, Texas, the business is focused on pipeline cleaning and hydrostatic testing.
The acquired assets of the pipeline and chemicals services segment of Greene’s Energy Group LLC offers a full range of products and services for pipeline integrity management, new construction and maintenance support including several proprietary chemicals and a large inventory of specialised equipment.
The business unit generated sales of approximately $15.5 million in the financial year 2016.
“The acquisition complements our existing product and service portfolio for the O&G business in the USA and supports our ability to comprehensively serve all segments of the industry,” said Markus Klahn, a member of the management board of Brenntag Group and CEO, Brenntag North America.
“The acquisition will expand our capabilities and service offering in this important segment and is a good opportunity for further consolidation of the still fragmented market of service providers to the O&G industry,” added Anthony Gerace, managing director mergers & acquisitions at Brenntag Group.
Read More: Brenntag acquires GEG’s chemical services business in US

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