Monday, March 9, 2020
(March 9, 2020) — MAKEEN Energy’s daughter company, Kosan Crisplant, has signed an agreement to acquire Gas Equipment Company (GEC), closing of the deal will take place before end of March 2020. This newest acquisition is aimed at strengthening the global business and network of the group’s trading division, KC ProSupply.
Reinforcing global presence and volume Gas Equipment Company, Inc. (based in Dallas, USA) will in the future be part of the international, Denmark-based company MAKEEN Energy. GEC thus becomes the latest branch of MAKEEN Energy’s trading division, KC ProSupply, which supplies gas components and other commodities as well as service and consultancy for the gas industry worldwide.
The previous owner, Skeeter LaDue, will continue to lead GEC under the new ownership. “I am thrilled to be able to pass on ownership of GEC to a company that wants to carry our values forward. Joining forces with people as passionate about energy industry success as us is what takes us into the next chapter in our storybook.” Skeeter LaDue President, GEC.
“This acquisition opens up new possibilities for us in the US market and allows us to develop our existing presence and services substantially. I am convinced that this move will lead to an exciting and successful future for both parties.” Bo Larsen Sales Director, MAKEEN Energy.
Mutual advantages and synergies. The acquisition of GEC adds extra volume and new business areas to KC ProSupply. By building on its physical locations and its relations to the market, the GEC business can now be further strengthened by developing the service area and offering added value to the American customers – from purchase, consultancy and delivery to installation and on-site services.
"The trading activities in KC ProSupply are a strategic focus area for which we have ambitious goals, and with the acquisition of GEC, which is the largest acquisition to date, our trading division will assume a size justifying merging the activities in one powerful unit. The unit will consist of 180 employees and have a yearly turnover of approx. 85 MUSD", said Anders C. Anderson, CEO, MAKEEN Energy.
High volume, combined with many years in the business, means that GEC holds a strong position with many of the major suppliers. GEC and KC ProSupply can, therefore, achieve substantial synergies in relation to the key suppliers, both in terms of higher volume as well as easier daily access to the US-based suppliers for the European branches of KC ProSupply.
Facts about MAKEEN Energy a/s:
Reinforcing global presence and volume Gas Equipment Company, Inc. (based in Dallas, USA) will in the future be part of the international, Denmark-based company MAKEEN Energy. GEC thus becomes the latest branch of MAKEEN Energy’s trading division, KC ProSupply, which supplies gas components and other commodities as well as service and consultancy for the gas industry worldwide.
The previous owner, Skeeter LaDue, will continue to lead GEC under the new ownership. “I am thrilled to be able to pass on ownership of GEC to a company that wants to carry our values forward. Joining forces with people as passionate about energy industry success as us is what takes us into the next chapter in our storybook.” Skeeter LaDue President, GEC.
“This acquisition opens up new possibilities for us in the US market and allows us to develop our existing presence and services substantially. I am convinced that this move will lead to an exciting and successful future for both parties.” Bo Larsen Sales Director, MAKEEN Energy.
Mutual advantages and synergies. The acquisition of GEC adds extra volume and new business areas to KC ProSupply. By building on its physical locations and its relations to the market, the GEC business can now be further strengthened by developing the service area and offering added value to the American customers – from purchase, consultancy and delivery to installation and on-site services.
"The trading activities in KC ProSupply are a strategic focus area for which we have ambitious goals, and with the acquisition of GEC, which is the largest acquisition to date, our trading division will assume a size justifying merging the activities in one powerful unit. The unit will consist of 180 employees and have a yearly turnover of approx. 85 MUSD", said Anders C. Anderson, CEO, MAKEEN Energy. High volume, combined with many years in the business, means that GEC holds a strong position with many of the major suppliers. GEC and KC ProSupply can, therefore, achieve substantial synergies in relation to the key suppliers, both in terms of higher volume as well as easier daily access to the US-based suppliers for the European branches of KC ProSupply.
Facts about MAKEEN Energy a/s:
- The MAKEEN Energy group unites Kosan Crisplant, Siraga, KC LNG, KC ProSupply and MAKEEN Power under the same roof.
- Together, these companies and brands make it possible for MAKEEN Energy a/s to provide 360-degree energy solutions of every kind – LPG, LNG, spare parts, service, engineering and power plants.
- Trading of gas components through KC ProSupply has become a growing part of MAKEEN Energy's business in recent years and now accounts for a solid portion of the company's annual turnover.
- GEC is a warehouse distributor of in-process, transfer and control equipment for oil and gas producers, transporters and LPG marketers.
- The company has expanded into the segments of industrial/petrochemical and industrial gas/cry/NOx/SCR and natural gas liquids, as well as integrated systems for these markets.
- The LaDue family established the company in Dallas, Texas, in 1937 and have owned the company ever since.
- Currently, GEC has 11 offices across the central, southern and eastern United States.
