Semco Energy Buys Two Contractors.
The acquisitions include: Flint Construction Co. of Lawrenceville, GA; Long's Underground Technologies of Lufkin, TX; and Drafting Services of Monroe, LA. Company officials said these purchases are in keeping with the Semco's stated mission of aggressive growth within its diversified division. The combined annual revenue from the acquisitions was nearly $23 million for the last fiscal year.
William L. Johnson, chairman and CEO of Semco Energy, made the announcement. "Each of these companies meets our key acquisition criteria by being solid, profitable, well-managed enterprises with excellent reputations within the industry. The addition of these companies to our diversified business unit will add to our earnings and advance our goal of becoming one of the largest providers of turnkey engineering and construction services in the energy industry" he said.
Flint Construction Co., which as 225 employees, provides specialized construction services for natural gas distribution companies and interstate pipeline companies in the southeast. Robert Good will continue as president and Terry Fuller will remain as vice president.
Long's Underground technologies provides construction services to natural gas distribution companies and to telecommunications companies in Texas. Paul Long remains as president and CEO of the 125-employee company.
Drafting Services, with eight survey crews and six drafters, specializes in survey/drafting services to interstate pipeline companies. It will become part of Maverick Pipeline Services, one of the engineering firms operation by Semco Energy Ventures, a subsidiary of Semco Energy. Paul Devillier, president of Drafting Services, becomes manager of the survey/drafting division of the MPSI Louisiana-based Pipeline services division.
Flint Construction and Long's Underground technologies also will be operated by Semco Energy Ventures, which acquires companies involved in gas engineering, quality assurance services, pipeline construction services, propane distribution, intrastate pipelines and natural gas storage. Info 167
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|Article Type:||Brief Article|
|Date:||Oct 1, 1999|
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