With roots dating back to the late 1800s, Warren, PA-based North Penn is the oldest oil and gas field pipe and supply business in continuous operation in the world. North Penn serves the northern portion of the Appalachian Basin as a comprehensive supplier of virtually all products required for the drilling, completion and production of oil and gas wells. The company's revenues have risen dramatically over the past several years as oil and gas exploration and drilling activities within its region have increased. Under the ownership of Fairmont Supply, North Penn is well positioned to capitalize on the anticipated continued growth in the Appalachian Basin due primarily to the Marcellus Shale oil and gas opportunity.
"Today's acquisition of North Penn Pipe & Supply allows us to expand our role in the key oil and gas market within the
U.S. We believe that oil and gas is a significant component
in meeting our country's current and future energy needs," says Rich Layton, President of Fairmont Supply. Mr. Layton continues, "Our long-term business plan has been to balance our growth in various key market segments, this acquisition supports that strategy. We look forward to combining our efforts to develop additional business in this market."
Fairmont Supply operates 25 service center facilities (excluding North Penn) and nine on-site store management locations in the U.S. Major markets being served are in mining, steel, industrial, aluminum, oil & gas, utilities, paper, and glass, plastic, chemical, and automotive industries.
Strategic Advisors is an investment banking firm that provides merger and acquisition, corporate finance and strategic advisory services to business owners. Since 2002, Strategic Advisors has served as the primary M&A and/or corporate finance advisor on over 350 transactions totaling over $6.5 billion.
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Securities transactions are conducted hroughStillPoint Capital, Member FINRA/SIPC, Tampa, FL