Friday, September 10, 2010

GHX announces two acquisitions

Hose and sealing products distributor expands with purchases in Pennsylvania, Florida

Houston-based hose and sealing products distributor GHX Industrial, LLC expanded its reach into Pennsylvania and Florida with two acquisitions, the company announced this week.

In Pennsylvania, GHX acquired Hose Line Industrial, a hose and fittings distributor that gives GHX immediate access to growth opportunities in the region’s natural gas production business—particularly in the growing natural gas production activity in the Marcellus Shale formation. The deal closed in June and builds on GHX’s already strong presence in the upstream oil and gas markets in Texas and Louisiana.

In Florida, GHX recently completed the acquisition of Trident Supply Co., a hose and fittings distributor located in Jacksonville, with three locations serving the southern Georgia and northern Florida markets. The deal expands on GHX’s existing business in the Southeast; the company already serves industrial markets from locations in Pensacola, Fla., and Mobile, Ala.

GHX CEO Dan Ahuero said the company will continue to look for acquisition opportunities as part of a strategic plan to grow the business. The distributor acquired Louisiana-based All Hose & Specialty in 2007 and Texas-based Robsco, Inc. in 2008 as part of its plan to expand into the upstream oil and gas industry, which includes oil and gas drilling, exploration and production.

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