Cross-Country Pipeline Supply acquires PAI

Cross-Country Pipeline Supply Co., (Cross Country), a leading equipment and supplies provider to the domestic oil and gas pipeline construction industry, has acquired Power Associates International, Inc. (PAI), a premier hydrostatic equipment provider to the pipeline market.

Cross Country is a portfolio company of Odyssey Investment Partners. Financial terms of the transaction were not disclosed.

Based in Houston, PAI manufactures and assembles hydrostatic testing systems and components that are rented or sold to a range of customers active in the pipeline industry, including contractors, pipeline owners and testing/maintenance firms. PAI maintains a rental fleet of over 370 units and sells newly manufactures products.

Gerry Plescia, Chief Executive Officer of Cross Country sad, "PAI is an important addition to Cross Country as we seek to broaden and deepen our client relationships. PAI diversifies our product offerings and expands our services into the integrity, testing and maintenance market. We are very excited to partner with Jim and the team at PAI to further strengthen the service we provide to our combined client base.”

Jim Hodde, President of PAI, said, “Cross Country is an ideal partner for PAI that will help us to expand our industry-leading position. I am pleased to partner with Gerry and the executive team at Cross Country to build the value of our business and serve the pipeline industry at this exciting time.”

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/02012014/cross_country_pipeline_supply_acquires_pai/