Odyssey Investment Partners has acquired Cross-Country Pipeline Supply Co., an equipment and supplies provider to the oil and gas pipeline construction industry. This acquisition is Odyssey’s seventh investment in the industrial rental services sector.
Cross Country provides equipment to the domestic pipeline construction industry for rent and sale. The company’s customers are typically pipeline contractors engaged by energy companies to construct new pipeline or retrofit or repair existing lines. Cross Country also sells consumable parts and supplies. The company is based in Aurora, CO (www.ccpipeline.com).
“The market opportunities within the domestic oil and natural gas pipeline industry are dramatic, largely driven by shale plays. However, the infrastructure supporting the industry generally and shale production specifically is aging and insufficient,” said Stephen Berger, Chairman of Odyssey Investment Partners. “Cross Country is positioned to take advantage of the current expansion in the shale space by being a “one-stop shop” for key equipment and consumable supplies used in the pipeline construction, maintenance, and repair market.”
The Cross Country management team, led by President John James, will continue to head the company. “Odyssey’s investment in Cross Country signals a new and exciting chapter of growth for our company. With the support of a leading financial partner, we are well prepared to execute our growth strategy by capitalizing on the enormous potential in the domestic oil and gas pipeline industry,” said Mr. James.
Odyssey Investment Partners is a middle-market private equity firm with more than $3 billion under management. Odyssey makes control investments primarily in established middle-market companies in a variety of industries, including industrial manufacturing; business, financial and healthcare services; aerospace products; and localized and route-based service businesses. The firm has offices in New York and Woodland Hills, CA (www.odysseyinvestment.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-19-13