NOW Inc. completes Power Service acquisition
Houston-based NOW Inc. recently announced the closing of its previously announced acquisition of Power Service, Industrial Tool & Repair, dba Power Service of Montana and Power Transportation (collectively Power Service).
Power Service has served the energy and industrial markets in the Western U.S. since 1954 and is known as a one-stop shop for modularized well hookups, NOW Inc., noted. Power Service features a team of engineers and draftsmen that design, fabricate and deliver a complete solution of pumps, pipe, valves, fittings, electronic controls, heater tracers, oil-water separators, gas dehydrators, LACT units, meter runs and produced water injection packages to its customers.
Tony Cercy, who has owned and led Power Service for the last 11 years and with the organization for 33 years, has agreed to join DistributionNOW in his current role, which will be expanded to include existing DNOW businesses that provide these engineered packaged solutions.
“Our customers and sales team will benefit from DNOW’s extensive network of locations, both in the U.S. and abroad, and strong pipe, valves and fittings, and MRO supplier relationships,” Cercy said. “We are excited to begin leveraging these supplier relationships to improve our performance and to grow our existing business through DNOW’s expansive infrastructure, which includes the recent acquisition of Odessa Pumps. Customers have already started reaching out to us and are excited about Power Service joining the DNOW organization and the resulting geographic expansion of our capabilities.”
NOW Inc. President and CEO Robert Workman added, “We believe Power Service’s establish position in the oil-and-gas tank battery solutions market will positively impact our operator customers by enabling them to expedite revenue generation by reducing the time to complete a tank battery and get oil and gas into the pipeline, and saving our customers time and expense related to well hookup decommissioning. We are excited about the many new packaged products and solutions DNOW will be able to offer our customers, including the expansion of product lines for our Odessa Pumps business and growing our valve actuation solutions offering. This combination will greatly benefit our customers, Power Service and the DistributionNOW organization as a whole.”