Valerus Compression Services Acquires Power Equipment Services
Houston-based Valerus Compression Services, a full service provider of natural gas compression, processing and treating services, announced the acquisition of Tuscaloosa, Ala.- based Power Equipment Services (PES), a provider of compressor packaging, service, maintenance and overhaul facilities.
PES is located in the Black Warrior Basin, a mature region for gas services in Mississippi and Alabama. "The acquisition of Power Equipment Services is a strategic move for Valerus as it enables us to not only expand our reach into a new, growing territory, but also provide our customers a more advanced suite of compression services," said Danny Cannon, VP of Operations for the Eastern Region, of Valerus.
The acquisition enables Valerus to provide the area with more comprehensive gas handling products and services to meet the growing need across the basin. With the acquisition, Valerus will have added approximately 25 customers, 7 employees to its existing 1100 base, and a new 16,000 square foot facility that will be designated to service the region.
"Valerus is in an ideal position to be able to offer our customers a comprehensive line of equipment and services which has allowed us to grow not only across the U.S., but also throughout the world as we work to meet our industry's demands, said Mike McGhan, Co-CEO, Valerus. "This acquisition is just another step as we continue to strengthen and solidify Valerus' leading industry position as a provider of gas handling services."
PES was previously owned by Ken and Lee Ann Knowles. Ken has more than 29 years of experience in the industry including positions at Halliburton and Reagan Equipment Company. Ken will continue to manage the Tuscaloosa, Ala. operations under the Valerus name.