Legacy™ Measurement Solutions broadens its measurement, production, and process equipment offering to the oil & gas industry with acquisition of Pelagic Tank, & sharpens focus through divestiture of certain assets related to gas analysis, chart interpretation, and field services.
ADDISON, Texas, March 17, 2015 /PRNewswire/ — Legacy Measurement Solutions, Inc. announced that it has reached an agreement to acquire Pelagic Tank, LLC, subject to final documentation. The company also announced that it has signed a definitive agreement to divest certain assets related to its gas analysis, chart interpretation, and field service business to Gas Analytical Services Inc., a subsidiary of CriticalControl Solutions Corp. (TSX: CCZ). Both transactions are expected to close on or about April 1, 2015.
“The addition of Pelagic Tank broadens our product offering of measurement, production, and process solutions to better meet the needs of our customers in the oil and gas industry,” said Drew Ladau, President & CEO of Legacy Measurement Solutions. “As we shift our strategic focus to increasingly complex equipment solutions, the divestiture of our gas analysis, chart interpretation, and field services businesses is a logical step. We are confident in Gas Analytical Services’ capability to continue our tradition of customer service in these areas.”
Legacy Measurement Solutions offers engineered measurement, production and process equipment to the oil and natural gas industry from wellhead through midstream and transmission. Products include engineered ultrasonic and orifice measurement stations, custom and standard meter tubes, LACT units, gas production units, pressure control skids, and ASME code vessels. The company has over 400 employees and locations in all major oil and gas basins in the United States. Legacy Measurement Solutions is a portfolio company of White Deer Energy.
White Deer Energy is an energy private equity firm focused on the exploration and production, oilfield service and equipment manufacturing, and midstream sectors of the oil and gas industry. With $2.2 billion of capital commitments across two private equity funds, White Deer Energy is a long-term investor targeting equity investments of $50 to $150 million. With offices in Houston and New York, White Deer Energy has a combination of industry expertise and capital that makes it an attractive partner for rapidly growing energy companies.
Pelagic Tank provides production and process equipment to the oil and gas industry including waste gas incinerators, free water knockouts, two phase and three phase separators, and vertical heater treaters. Its ASME code facility is located in Enid, Oklahoma.
CriticalControl provides solutions for the collection, control and analysis of measurement and operational data related to oil and gas wells across North America. It provides services to capture the data, cloud based software to visualize and manage it and the business intelligence to make quicker and more informed operational decisions.