Superior Plant Services purchased by Actuant
Oil, Gas & Petrochem Equipment
Actuant Corporation has completed the purchase of Superior Plant Services L.L.C. for $57 million. Actuant Corporation is a $1.5 billion diversified industrial company with operations in more than 30 countries. The Actuant businesses comprise branded hydraulic and electrical tools & supplies as well as highly engineered position motion control systems
Superior Plant Services L.L.C. (SPS) will be managed in part with Hydratight, one of the businesses comprising Actuant's Industrial Segment. Hydratight is a leader in the power generation and oil & gas markets selling joint integrity solutions to companies also serviced by SPS such as BP, Chevron, Exxon, DOW, BHP, GE, Siemens and Turner Industries. Hydratight's extensive offering includes DL Ricci field machining, hydraulic torque and tension tools, Morgrip pipe connectors, asset management software, weld testing, line isolation, hot tap and metal disintegration services.
SPS has 5 operating locations in Louisiana, Texas and North Carolina and will retain all current management. SPS is also owner of Patriot Tools (HQ in Mooresboro, North Carolina) a key supplier of on-site machining tools and manpower for the Southeast Region. SPS adds 125 additional well trained and competent service technicians to the Hydratight workforce with a complimentary business and working philosophy. Hydratight's intent is to leverage Superior's and Patriot's synergies to build upon our global aim to provide customers a full portfolio of joint integrity solutions with focus on and total commitment to Safety, Quality and Value.
Together, SPS and Hydratight combine bolting and machining solutions made up of over 1000 employees with 29 operating locations in 24 countries.
For more information on the companies involved with this acquisition check out these websites;
Actuant: www.actuant.com
Hydratight: www.hydratight.com
DL Ricci/Hydratight: www.dlricci.com
Superior Plant Services: www.superiorplantservices.com
Patriot Tools: www.patriotonsite.com
Press release info at: redwing@hydratight.com
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