HOUSTON, Jan. 25, 2017 /PRNewswire/ -- GATE Energy announces the acquisition of Mid-South Rental and Completion Services (MSRCS) headquartered in Youngsville, LA.
Mid-South Rental and Completion Services is a global resource for equipment and service personnel within the upper-completion and production markets specializing in multi-line spooling services (MLS), thru-tubing control systems (TTCS), flushing, filtration, pressure testing and umbilical pumping. In addition, MSRCS provides high pressure, high flow rate filtration of subsea umbilicals, trees, BOP controls, hydraulic systems, control panels, and subsea equipment. They also provide particle counting (adhere to SAE AS4059, NAS 1638, SAE AS598 standards) of hydraulic fluids and chemicals for facilities, and downhole applications. MSRCS will join forces with BlueFin, a GATE Energy Company, which will expand their portfolio into the completion arena, as well as increase their flushing, filtration and pressure testing expertise.
BlueFin's President and co-founder, David "Ducky" Pugh, said, "With this acquisition, the GATE Energy group of companies will be further positioned to provide a more robust offering to the deepwater market, as well as lube oil flushing to the US onshore mid-stream space. Combining Mid-South with our operations will greatly expand our asset base and technical staff. Our team is excited to embrace the Mid-South organization. Their reputation and client confidence parallels our mission of 'Together, We Make It Work Right the First Time.'
"The partnership with GATE has been a real progressive step for BlueFin. The support and synergies gained by this strategic partnership have proved to be a great move for us. Grant and his team started from the ground up and have built a great company. They know what it takes to be successful as a service company in this space."
Grant Gibson, Founder and CEO of GATE Energy, says, "The synergy and technical niche between MSRCS and BlueFin will create long term relationships with our clients and accelerate our organic growth strategy. In addition, GATE, Inc.'s engineering capabilities will be put to work through solving real world flow assurance issues, creating better integrated services to our Clients. Our commissioning services will benefit through full service integration from mechanical completion through steady-state operations. This acquisition further diversifies our revenue streams from both CAPEX and OPEX and will create value for our shareholders from growth and backlog. Finally, in this down-market, we will gain more market share in mission critical services, setting the stage for value creation when the market returns to full swing."
BlueFin, a subsidiary of GATE Energy, is a leading independent service company with a suite of project execution niches and specialty equipment, covering a full range of pipeline and process solutions.
GATE Energy is a family of companies that provide scalable, bespoke services for the energy sector including project management, engineering, commissioning, field services, and manpower staffing services.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/gate-energy-acquires-mid-south-rental--completion-services-300396990.html
SOURCE GATE Energy