EPiC Energy Resources, Inc., a provider of engineering & consulting services to the energy industry, has acquired Epic Integrated Solutions, LLC in a stock and cash transaction valued at $4.3 million. The acquisition is anticipated to be accretive to earnings in 2008 and in the prior twelve month period (2007) Epic Integrated Solutions generated approximately $2.9 million in revenue with net income of $726,264.
Epic Integrated Solutions, LLC, located in Houston Texas, provides the oil and gas industry with specialized training, operations documentation and data management services for the start up and operation of today's complex production facilities. Epic Integrated Solutions' experience includes projects in the US domestic market, along with executing projects for the major international energy companies in most of the deepwater basins around the world.
"We are pleased to welcome the Epic Integrated Solutions team to our family of engineering and consulting services," said Rex P. Doyle, EPiC's Chief Executive Officer. "Although our two companies have no previous affiliations with each other, we have known the Epic Integrated Solutions group for many years and appreciate the outstanding reputation they have built in the engineering and energy industries. Dean Harvey, one of Epic Integrated Solutions founders is truly a leader in developing comprehensive training programs that result in a competent, safe and high performing workforce. Dean and his team have a long history of not only creating very targeted training programs, but also effectively delivering this training at client facilities around the globe. These customized training and operations documentation products give us the ability to assist companies in closing the human resource gap which is so critical to project success in today's world."
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