Cross Country Pipeline Supply Co. Inc., an equipment and supplies provider to the domestic oil and gas pipeline construction industry, has acquired Power Associates International Inc. (PAI), a hydrostatic equipment provider to the pipeline market. Financial terms of the transaction were not disclosed.
Based in Houston, PAI manufactures and assembles hydrostatic testing systems and components that are rented or sold to a range of customers active in the pipeline industry, including contractors, pipeline owners, and testing/maintenance firms. PAI maintains a rental fleet of over 370 units and sells newly manufactured products.
Cross Country, a portfolio company of Odyssey Investment Partners, is based in Aurora, Colorado, with branches in Pennsylvania and Texas.