Houston, TX - Houston-based GHX Industrial, LLC (ghxinc.com), reported today that it has acquired Abilene, Texas-based Key City Warehouse Sales. Key City specializes in the distribution of belts, hoses, fittings, valves and other products to customers primarily, in the upstream oil and gas business. Key City's five locations will bring the total number of branches operated by GHX to 42 in the U.S. and Edmonton, Canada. Headquartered in Houston, GHX is a leading fabricator and supplier of industrial fluid transfer and sealing products to both the upstream and downstream energy markets. The addition of Key City Warehouse Sales will significantly boost GHX's presence in major oil and gas exploration and production areas in the U.S.
"Of particular interest to us is the addition of Key City's Alice, Texas, and Elk City, Okla., locations, which enhance our ability to serve customers operating in the Eagle Ford shale, Woodford, Anadarko Basin and Texas Panhandle areas," said Richard Harrison, president and CEO of GHX.
GHX Board Chairman Dan Ahuero noted, "Key City's assets fit like a glove with our other locations. This acquisition allows us to expand into additional active exploration and production areas of the U.S. with an already-experienced staff and a loyal customer base," he added.
According to Harrison, Key City will operate under the McCarty name, which GHX maintained after the acquisition of McCarty Equipment in September 2011. "McCarty has a very strong customer base which was built by providing superior service and by opening new locations to support customers' growth into new areas," he said.
About GHX Industrial, LLC
GHX is a portfolio company of The CapStreet Group, LLC (capstreet.com). GHX provides fluid sealing (gaskets), fluid transfer (hoses) and other products to a variety of industries, particularly the power generation, refining and petrochemical, mining, agriculture, marine and upstream oil and gas enterprises. CapStreet is a Houston-based private equity firm that invests in growing middle market companies in Texas and other Sunbelt states and partners with management to accelerate growth and improve profitability. Since CapStreet's investment in GHX in 2007, the company has grown significantly through strategic add-on acquisitions, growth in same store sales, and by opening new branches.