Pipe Maintenance Acquired by Maxim Partners
Pipe Maintenance, Inc., a Kilgore, Texas-based provider of inspection, repair, maintenance and asset management services for oil country tubular goods and down-hole tools, has been acquired by Chicago-based private equity firm Maxim Partners, LLC.
Senior credit facilities for the transaction were provided by Cadence Bank, N.A. through its energy services team.
Following the acquistion, made in partnership with management, founders Chris Geddie, Tom Akins and Mike White will continue to led the company, along with newly appointed Curtis Crane (CFO). Pipe Maintenance has also appointed Sealy Morris, President of Rotary Drilling Tools USA, LP, and K. Rick Turner, former Senior Managing Director and head of private equity for The Stephens Group, to its new Board of Directors.
Customers of the company include oilfield services companies, drilling contractors and E&P companies.