(Source: MCIP)
Milestone Capital and D2 Equity Capital have companies had collaborated to acquire the Houston-area pipe-coating firm MCIP, the private equity firms said on July 22. Financial terms were not disclosed.
The two companies created a business entity specifically to purchase a majority interest in MCIP’s assets, including its Pearland, Texas, plants. The firms plan to expand family-owned MCIP into a strong presence in regional market sector, according to a Milestone Capital press release.
“MCIP has a reputation of quality of work and exceptional customer service, and we hope to build upon those foundations to make MCIP the 'go to' pipe coating facility in the Gulf Coast region,” Kelly Williams, managing director of Milestone Capital, said in the press release.
Milestone’s Managing Director Jeff Donaldson will take the role of MCIP president and interim CEO for the transition.
MCIP was founded in 2008 by the Mosqueda family as an industrial painter, expanded into pipe coating in 2016 and purchased its current location in Pearland in 2020.
Recommended Reading
McKinsey: Big GHG Mitigation Opportunities for Upstream Sector
2024-11-22 - Consulting firm McKinsey & Co. says a cooperative effort of upstream oil and gas companies could reduce the world’s emissions by 4% by 2030.
US Drillers Cut Oil, Gas Rigs for Second Week in a Row
2024-11-22 - The oil and gas rig count fell by one to 583 in the week to Nov. 22, the lowest since early September. Baker Hughes said that puts the total rig count down 39, or 6% below this time last year.
Water Management Called ‘Massive Headwind’ for Permian Operators
2024-11-21 - Amanda Brock, CEO of Aris Water Solutions, says multiple answers will be needed to solve the growing amounts of produced water generated by fracking.
Coterra Takes Harkey Sand ‘Row’ Show on the Road
2024-11-20 - With success to date in Harkey sandstone overlying the Wolfcamp, the company aims to make mega-DSUs in New Mexico with the 49,000-net-acre bolt-on of adjacent sections.
Suriname's Staatsolie Says Exxon has Withdrawn from Offshore Block
2024-11-20 - Suriname's state-run oil company Staatsolie said on Nov. 20 that U.S. oil giant Exxon Mobil has withdrawn from its offshore block 52, and block operator Petronas Suriname E&P will take over its 50% stake.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.