Natco acquires UK water reinjection company

Natco Group Inc., Houston, has acquired privately held UK-based Axsia Group Ltd., a process-design company specializing in water reinjection systems, for $45.8 million.
March 21, 2001


By the OGJ Online Staff


HOUSTON, Mar. 21
�Natco Group Inc., Houston, has acquired privately held UK-based Axsia Group Ltd. for $45.8 million.

Axsia, a process-design company, specializes in water reinjection systems for oil and gas fields, oily water treatment, oil separation, and hydrogen production, said Natco. The acquisition expands Natco's offerings and geographic presence.

Natco is a wellhead process equipment manufacturer.

Axsia had a $40 million backlog at the turn of the year, and expects to generate $70 million-$80 million this year.

Natco financed the deal with borrowings from a new credit facility led by JP Morgan.

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