Primoris Services Corporation acquired Generational Capital Markets client Coastal Field Services LP on June 16, 2017. Details were not disclosed.
Coastal Field Services, based in Beaumont, Texas, provides pipeline construction, integrity support, pipe and vessel coating, and insulation services for leading companies in the oil and gas industry along the Gulf Coast of the United States.
Coastal Field Services Co-owner and President Jeff Bridges will continue to manage day-to-day operations as President of Primoris Coastal Field Services, the division Coastal will operate under now.
Primoris Services Corporation, based in Dallas, Texas, is one of the largest publicly traded specialty construction and infrastructure companies in the United States. Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation, and other customers.
“The acquisition of Coastal dovetails well with the work performed by our Primoris Pipeline and Field Services groups,” said Primoris President and CEO David King. “It allows us to offer our clients a wider range of services, including compressor station capital projects, pipeline integrity work, call-out work, and insulation of plant piping and vessels. Coastal provides Primoris an opportunity to increase our market share in the Gulf Coast energy market. We welcome Coastal and its employees to the Primoris family.”
Generational Equity Executive Managing Director Bill Kushnir established the relationship with Coastal Field Services, and Generational Capital Markets Managing Director Chris Heckert successfully closed the deal.
“This is an exciting opportunity for Coastal Field Services and Primoris,” said Heckert. “I look forward to seeing what this partnership can accomplish.”