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Private Equity Fund To Acquire BHGE’s Reciprocating Compression Division

BHGE

Arcline Investment Management, a private equity fund with $1.5 billion of capital under management, said it has signed a definitive agreement to acquire the reciprocating compression division of Baker Hughes, a GE company.

The reciprocating compression division manufactures and services compression and engine systems that are used in a variety of applications, including the transmission of natural gas across domestic and international pipelines. The company is the original equipment manufacturer and supplier of parts for its systems and provides overhaul and repair services to its customers.

These customers operate a large installed base of brands, including Cooper-Bessemer, Ajax, Superior, Gemini, Enterprise, TSI, CSI, TXC, and Joy. Manufacturing is conducted in in Houston and Salina, Kansas, while on-site services are delivered through its network of field technicians operating out of five repair and overhaul shops strategically located around the US.

There are more than 3,000 units operating worldwide.

Arcline said, "BHGE's reciprocating compression division serves the most critical infrastructure applications of its customers. We plan to aggressively invest in our longstanding, loyal employee base so that they can support every brand of our equipment operating in the field."

Earlier in the week, Arcline announced its acquisition of Integrated Polymer Solutions (IPS) from Industrial Growth Partners.

IPS utilizes advanced materials to manufacture custom, highly-engineered elastomeric components, such as seals, gaskets, and tooling for composite manufacturing, for specialty industrial end markets. Its inventory of 6,000 custom tools is used to produce more than 12,000 components. Productiion facilities are located in Long Beach, California, and Sheffield, UK.

Arcline said in March it is targeting investments in niche companies with up to $1 billion of enterprise value and $100 million in earnings before interest, tax, depreciation, and amortization (EBITDA).

 

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