March 2022, Vol. 249, No. 3
Business
Companies in the News March 2022
Companies
Pipeline engineering software developer Technical Toolboxes has been acquired by HKW, a private equity firm.
The deal will provide the company with the resources it needs to grow, said CEO Drew Lafleur.
Technical Toolboxes has provided software to support midstream engineering needs for more than 20 years, including such products as the Pipeline Toolbox, RSTRENG, AC Mitigation Toolbox and Horizontal Directional Drilling (HDD) Toolbox.
Deere & Company acquired majority ownership in Kreisel Electric Inc., which manufactures high-density, high-durability electric battery modules and packs for high-performance and off-highway applications.
The transaction was announced in December and completed in early February following regulatory approval. Kreisel Electric, based in Rainbach im Mühlkreis, Austria, has about 180 employees. It will retain its brand name and trademark, Deere said.
Altus Midstream Company announced that its shareholders voted in favor of a previously announced merger with BCP Raptor Holdco, parent company of EagleClaw Midstream in an all-stock transaction.
Altus, a pure-play, Permian-to-Gulf Coast midstream C-corporation, owns gas gathering, processing and transmission assets servicing production in the Delaware Basin and owns equity interests in four Permian-to-Gulf Coast pipelines. It also announced that the combined company will operate under the new name Kinetik after closing.
Entegra announced the opening of a new facility in Houston.
It is the company’s second U.S. facility, joining the operations and corporate headquarters in Indianapolis, as well as multiple locations in Canada, the UK, and Mexico.
The Houston location will house both field and data analysis personnel and serve as the operational base for the greater Gulf region. ENTEGRA is a global pipeline inspection company with an integrated system of ultra-high-resolution ILI tools.
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