Expands Company's Presence Into Canadian Market
AURORA, Colo., July 6, 2015 /CNW/ -- Cross Country Pipeline Supply Co., Inc. ("Cross Country"), a leading equipment and supplies provider to the domestic oil and gas pipeline construction industry, announced today that it has acquired Sideline Specialty Equipment ("Sideline"). Through the acquisition of Sideline, Cross Country has entered the Canadian market. Financial terms of the transaction were not disclosed.
With offices in Conroe (near Houston), Texas and Spruce Grove (near Edmonton), Alberta, Canada, Sideline is a provider of specialized equipment and support for pipeline projects around the globe. Sideline provides innovative equipment and solutions – often designed and built to meet specific project needs – and services for a wide variety of pipeline projects.
Gerry Plescia, CEO of Cross Country, said, "The acquisition of Sideline to Cross Country is an important strategic initiative as we seek to expand our North American capabilities. The addition of an outstanding Canadian operation will enable us to serve an important energy market. We will also add excellent operations in the critical Houston market, as well as new business development capabilities that will help us to secure new business opportunities worldwide. We are pleased to welcome Bill Marhofer and Tim Martin, and their talented teams, to Cross Country and look forward to working together to build a leading pipeline equipment rental and supply sales company."
Bill Marhofer, President of the Sideline's U.S. operation, and Tim Martin, President of the Canadian operation, will join Cross Country in senior operational and business development roles. Mr. Marhofer and Mr. Martin each have more than 30 years' experience in the pipeline industry.
Mr. Martin said, "Joining Cross Country is an outstanding opportunity for Sideline, our customers and employees. Cross Country is a strong organization, committed to providing the pipeline industry with leading-edge equipment and service. We share a common vision for the future of our business and look forward to working with Gerry and his team to further enhance our customer offering in the exciting Canadian energy market."
Mr. Marhofer added, "The combination of Cross Country and Sideline creates an organization with world-class equipment and service capabilities and operations in leading energy markets. As we move forward as one company, we will be able to offer current and prospective customers in North America and around the world the most comprehensive solutions for their pipeline equipment needs."
About Cross Country
Cross Country is a leading supplier of equipment and supplies for the oil and gas pipeline industry. The Company is based in Aurora, Colorado, with branches in Pennsylvania, Texas and now Alberta, Canada. Cross Country is a portfolio company of Odyssey Investment Partners. For more information please visit www.ccpipeline.com.
SOURCE Cross Country Pipeline Supply Co., Inc.
For further information: Mark Semer, Kekst and Company, 212-521-4800, http://www.ccpipeline.com