Baker Hughes sells reciprocating compression business to private equity fund
HOUSTON - Arcline Investment Management, a private equity fund with $1.5 billion of capital under management, today announced that it has signed a definitive agreement to acquire the Reciprocating Compression division of Baker Hughes, a GE company.
The reciprocating compression division manufactures and services mission-critical compression and engine systems that are used in a variety of applications, including the transmission of natural gas across domestic and international pipelines. The company is the original equipment manufacturer and supplier of parts for its systems and provides overhaul and repair services to its customers. These customers operate a large installed base of its highly respected brands, including Cooper-Bessemer, Ajax, Superior, Gemini, Enterprise, TSI, CSI, TXC, and Joy. Manufacturing is conducted in its facilities in Houston, TX and Salina, KS, while on-site services are delivered through its extensive network of field technicians operating out of five fully equipped repair and overhaul shops strategically located around the U.S.
Arcline commented, "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."