Primoris Services Corp. (Nasdaq: PRIM) has acquired Ram-Fab LLC for roughly $10 million.
Ram-Fab, headquartered in Crossett, Arkansas, makes custom piping systems for the petro-chemical, water and wastewater, mining and heavy manufacturing industries. The company will be rebranded as a division of subsidiary Primoris Energy Services.
Primoris says the acquisition will allow it to have fabricating operations in the Gulf Coast markets.
Dallas-based Primoris is a construction group that provides fabrication, maintenance, replacement, water and wastewater and engineering services to public utilities, petrochemical companies, energy companies, municipalities and other customers. The company acquired Q3 Contracting Inc., a gas distribution pipeline specialist, in November 2012.
Businesses have been picking up energy-services companies as the U.S. oil sector heats up. In August, private equity firm Clayton Dubilier & Rice agreed to invest up to $600 million in energy-services company CHC Group Ltd. (NYSE: HELI). Also in August, wastewater treatment company Aqua Terra Water Management LP acquired two facilities in North Dakota.