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GEG to Expand with Pro Valve Services, Inc. Acquisition

Source: www.gulfoilandgas.com 9/19/2011, Location: North America

Greene’s Energy Group (GEG), a leading provider of integrated testing, rentals and specialty services has acquired the assets of Houma, La. based Pro Valve Services, Inc. from owner Jeff Mike, announced Greene’s Energy Group CEO Bob Vilyus.

The acquisition will broaden the after market production valve services provided by GEG’s Wellhead and Valve division. Greene’s will offer integrated repair, remanufacture and operational services for drilling and production valves. Additionally the acquisition broadens GEG’s capabilities in major US shale plays.

Valve products & services will be offered in all existing GEG service areas and include rebuilt production valves, production trees, remanufactured valves, service valves, commission valves and the ability to install all of the aforementioned. The business will report to Joseph Bergeron, General Manager of Greene’s Wellhead and Valve Services.

“Pro Valve Services’ management team and experienced employees coupled with the strong business relationships they have maintained with major oil & gas companies make this a very attractive strategic acquisition. This company fits well with our core belief of industry leading customer service. Pro Valve’s API and ISO accreditations are a great fit with our ongoing quality initiatives”, said Vice President Frank Mathews. “We embrace the opportunity to provide enhanced services to our existing clients and welcome the potential to increase our client base.”

“We are thrilled to join Greene’s. This combination provides us the opportunity to continue growth of our business in the region and to expand to other markets where Greene’s does business”, says owner Jeff Mike. “We are proud of the business we have built and plan on making it even better under a well respected company like Greene’s”.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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