Brenntag Buys US Pipeline and Chemicals Business
Just a day after buying Petra Industries in the US, German chemical distributor Brenntag announced it has acquired the pipeline and chemicals services business segment of Greene’s Energy Group, headquartered in Houston, Texas, USA, for an undisclosed sum.
The business is focused on pipeline cleaning and hydrostatic testing and the acquired assets comprise a full range of products and services for pipeline integrity management, new construction and maintenance support as well as several proprietary chemicals and a large inventory of specialized equipment. It generated sales of about $15.5 million in 2016.
“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 oil & gas industry,” said Anthony Gerace, Brenntag’s managing director, mergers & acquisitions.
