February 2 2017, David R Brown
Brenntag expands US service portfolio by acquiring the pipeline and chemicals services segment of Greene's Energy Group
Brenntag, the global market leader in chemical distribution, has announced that it has completed the acquisition of the pipeline and chemicals services business segment of Greene's Energy Group, LLC, a leading provider of integrated solutions for the Oil & Gas (O&G) industry in the USA, headquartered in Houston, Texas. The business is focused on pipeline cleaning and hydrostatic testing.
The acquisition complements our existing product and service portfolio for the O&G business in the USAMarkus Klähn
Member of the Board of Management of Brenntag Group and CEO Brenntag North America
Markus Klähn, Member of the Management Board of Brenntag Group and CEO Brenntag North America: “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.”
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 large inventory of specialized equipment.
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group: “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.”
The business unit generated sales of approximately 15.5 million USD in the financial year 2016.
Headquartered in Mülheim an der Ruhr, Germany, Brenntag is the market leader in chemical distribution and operates a global network of over 530 locations in more than 74 countries. In 2015, the company, which has a global workforce of more than 14,000, generated sales of EUR 10.3 billion (USD 11.5 billion). With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to around 180,000 customers. These include specific application technology, extensive technical support and value-added services such as just-in-time delivery, product mixing, formulation, repackaging, inventory management and drum return handling.
Source(s): Brenntag Press Release