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NOW Inc. Announces Power Service Acquisition

HOUSTON, Apr 29, 2016 (BUSINESS WIRE) -- NOW Inc. DNOW announced today that it has entered into an agreement to purchase Power Service, Inc., Industrial Tool & Repair, Inc., d/b/a/ Power Service of Montana and Power Transportation LLC (collectively, “Power Service”). Terms of the all-cash transaction, which remains subject to customary closing conditions, including regulatory approval, were not disclosed.

Founded in 1954, Power Service provides rotating and process equipment engineering, design, installation, fabrication and service solutions. Power Service distributes OEM parts including pumps, generator sets, air compressors and blowers, and fabricates custom Lease Automatic Custody Transfer (LACT) units, Vapor Recovery Units, ASME Code Vessels and Water Production skids serving the Upstream, Midstream & Downstream oil and gas markets as well as the Mining, Power Generation and General Industrial industries. Power Service operates in 14 locations throughout Wyoming, Colorado, Utah, Montana, North Dakota, New Mexico, Oklahoma and Texas. Power Service employs approximately 400...