A Fort Worth-based natural gas utility services contractor has been acquired.
Peak Utility Services Group, a Denver-based provider of integrated infrastructure services to the natural gas, electric and telecommunication industries, announced March 18 the acquisition of Superior Pipeline Services (SPS). Founded in 2001 and headquartered in Fort Worth, SPS has built long-standing relationships with leading utilities that provide their communities with critical energy needs. No price for the transaction was released.
The acquisition of SPS affirms Peak’s position in Texas’ growing utility services space. “I am pleased to welcome Superior Pipeline to the Peak family. We are thrilled to partner with a best-in-class provider in an attractive, fast-growing market with significant demand for natural gas utility maintenance, repair and installation,” said Jason Pickett, CEO of Peak. “With the robust economic and population growth we have seen in Texas, we are looking forward to playing a meaningful role in supporting the ongoing infrastructure needs there with SPS.”
SPS founder and President, Lynn Ayres, will continue to play a leading role alongside the current management team.
“We are excited to join the Peak family,” said Lynn Ayres. “By joining Peak, we will continue to provide our customers with excellent service while investing in our resources and our team. Peak’s focus on company culture, safety and customer service aligns well with our values and makes it a logical fit for SPS. We believe this transaction will enhance our ability to better serve our communities.”
“We view SPS as a great addition to the platform, which brings Peak front-and-center into a highly attractive market,” said Mohammed Khalil, Director, ORIX Capital Partners, the private equity platform of ORIX Corporation USA, whose managed fund acquired Peak in 2018. “This acquisition supports Peak’s position as a leading provider of mission-critical utility services, and we look forward to further accomplishments building on combined strengths.”www.peakusg.com