Regal Beloit Corp. (NYSE: RBC) has acquired Hy-Bon Engineering Co. Inc. for an undisclosed amount.
Hy-Bon, headquartered in Midland, Texas, provides vapor recovery services to oil and gas companies, aiming to help them meet emissions standards.
Regal is planning to add Hy-Bon to its Unico business, which makes pumping systems, gas-powered lifts, rod pumps and other devices. Regal manufactures electronic motors and other products that aim to be energy efficient.
Chicago private equity firm Pfingsten Partners sold Hy-Bon, which it had acquired in July 2009. The firm is currently invested in Allied Reliability Group, Dynapower and Industrial Lighting Products.
Brian Richards, Chistopher Sheaffer and Ziemowit Smulkowski from Paul Hastings LLP provided legal advice to Pfingsten Partners on the deal. Managing director Joe Packee of Baird provided financial advice to Hy-Bon.
Other recent energy services deals include Engineered Controls International LLC’s purchase of Superior Holding LLC, a flow control-product maker, and RigNet Inc.’s (Nasdaq: RNET) purchase of Inmarsat plc’s (LSE: ISAT.L) energy broadband business.