Arcline Investment Management said July 18 that it agreed to buy the Reciprocating Compression division of Baker Hughes, a GE company. Financial terms weren’t announced. The Reciprocating Compression division makes 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.
ARCLINE INVESTMENT MANAGEMENT TO ACQUIRE THE RECIPROCATING COMPRESSION DIVISION OF BAKER HUGHES, A GE COMPANY
Houston, July 18, 2019 – Arcline Investment Management (“Arcline”), a growth oriented 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 (NYSE: BHGE).
The Reciprocating Compression division (“the Company”) 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.”
Robert W. Baird & Co. served as financial advisor to Arcline in connection with the acquisition.
Arcline is a private equity firm with $1.5 billion in capital, investing in niche, market-leading companies that we are passionate about growing. We approach investments from multiple perspectives, but share a single vision — to identify and unlock the breakout potential in our companies. While we are deliberately sector generalists, some of our primary interest areas include Industrials, Technology, Life Sciences, and Specialty Chemicals.