Savage is buying Ft. Worth Pipe Services LP for an undisclosed amount.
Cresson, Texas-based Ft. Worth Pipe provides line pipe storage, trucking and cleaning services to oilfield customers in the Permian Basin, Barnett Shale and Marcelus Shale plays.
Savage, headquartered in Salt Lake City, Utah, is a supply-chain services company that moves and manages materials for the electric power, coal production, oil and gas, refining, agricultural, chemical, mining and manufacturing industries.
As M&A in the oil and gas industry has heated up, deals in the industry’s supporting sectors have increased. In May, MasTec Inc. (NYSE: MTZ) bought Big Country Energy Services, which constructs oil and gas pipelines, for $103 million. Also in May, Clearlake Capital Group LP announced it would pick up a division of Archer Ltd. that rents oil and gas equipment, and PetroWeb Inc. bought a segment of Neuralog LLP that provides technology for the industry.
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