RAE Energy Acquires Pipeline Coating Company, Offshore Joint Services
RAE Energy announced today that it has completed an agreement to acquire 100% equity interest in Offshore Joint Services (OJS) from Forum Energy Technologies. The transaction was completed on March 1st, 2014. OJS is a world leader in the application of protective coatings on subsea rigid pipeline field joints, spools and structures. OJS employs over 50 employees at locations in Houston, USA and Batam, Indonesia.
OJS will be joining the RAE Energy group, which already consists of leading pipeline inspection and fabrication businesses. RAE Energy provides the opportunity to grow the OJS business through global scalability, industry knowledge and leadership, strategic financial investments, and the ability to capitalize on market opportunities.
Richard Olphert, Senior Partner at RAE Capital LLC, stated: “The combination of RAE Energy and Offshore Joint Services creates a powerful team in the protective coating and insulation industries. The global presence of OJS supports the global growth of RAE Energy and offers an opportunity to grow our presence in Asia and North America. We look forward to continuing to invest in OJS and securing the position of world leaders in coatings, based on proprietary innovation and best in class delivery and customer service.
Offshore Joint Services, is a world leader in the application of protective coatings on subsea rigid pipeline field joints, spools and structures. To learn more about OJS, please visit www.ojs.com
RAE Energy, a privately owned company, is a diversified industrial global company focused on the Oil & Gas industry. To learn more about RAE Energy, please visit www.rae.com.