MACRO subsidiaries acquired the pipeline services business from North American Pipeline and North American Fleet Company for a total of $16m.
The business scope includes constructing, installing, maintaining, testing and repairing pipelines and facilities in the oil and gas industry.
Through the transaction, the company also owned certain assets such as pipeline construction machinery and equipment.
As a part of the acquisition, MACRO also has secured an assignment of a services agreement with a major pipeline company under which it will test and maintain certain aspects of its pipeline network.
Neither the name of the contracting company was disclosed nor was the value of the deal revealed.
