By the OGJ Online Staff
HOUSTON, June 14 -- Universal Compression Holdings Inc., Houston, has agreed to acquire Louisiana Compressor Maintenance Co. Inc., a Louisiana-based company serving pipeline and other natural gas-related companies, for $25 million.
Though the transaction is subject to several closing conditions, it is expected to close within 30 days.
Stephen A. Snider, president and CEO of Universal Compression Holdings, said, "The acquisition of the well-respected LCM business is an important element of our expansion into pipeline compression.... This transaction is complementary with our previously announced pending acquisition of KCI, Inc., a provider of compressor fabrication services to the natural gas pipeline and gathering markets."
The company expects the acquisition to add revenue of $18 million and earnings before interest, taxes, depreciation, and amortization of $4.5 million in the first full year of operations under current operating conditions.