Arcline Investment Management has signed an agreement to acquire the Reciprocating Compression division of Baker Hughes, a GE company (NYSE: BHGE).
The Reciprocating Compression division (RCD) manufactures and services compression and engine systems that are used in a variety of applications, including the transmission of natural gas across domestic and international pipelines. RCD is the original equipment manufacturer and supplier of parts for its systems and provides overhaul and repair services to its customers. Company-owned brand names include Cooper-Bessemer, Ajax, Superior, Gemini, Enterprise, TSI, CSI, TXC, and Joy.
RCD has manufacturing facilities in Houston, TX and Salina, KS and its on-site services are delivered through its network of field technicians operating out of five repair and overhaul shops located around the US. Click HERE for the RCD webpage.
“BHGE’s Reciprocating Compression division serves the most critical infrastructure applications of its customers. We plan to aggressively invest in our long-standing, loyal employee base so that they can support every brand of our equipment operating in the field,” said Arcline CEO Rajeev Amara.
Arcline makes control investments in companies that have from $10 million to $100 million of EBITDA and enterprise values of up to $1 billion. Sectors of interest include industrials, technology, life sciences, and specialty chemicals. The firm closed its first fund, Arcline Capital Partners LP, with $1.5 billion of committed capital in March 2019. Arcline was founded in September 2018 and has offices in San Francisco and New York (www.arcline.com).
Robert W. Baird & Co. was the financial advisor to Arcline in connection with the acquisition.
© 2019 Private Equity Professional | July 18, 2019
