Odyssey Investment Partners Acquires Cross-Country Pipeline Supply Co.

June 26, 2013

Odyssey Investment Partners has acquired Cross-Country Pipeline Supply Co., an equipment rental and sales and supplies provider to the domestic oil and gas pipeline construction industry. Terms of the transaction were not disclosed.

Based in Aurora, Colo., Cross Country provides specialized equipment to the pipeline industry. Its customers are, typically, pipeline contractors hired by energy companies to construct new pipelines or retrofit or repair existing lines. Cross Country also sells consumable parts and supplies.

“The market opportunities within the domestic oil and natural gas pipeline industry are dramatic, largely driven by shale plays,” said Stephen Berger, chairman of Odyssey Investment Partners. “However, the infrastructure supporting the industry generally and shale production specifically is aging and insufficient. Cross Country is positioned to take advantage of the current expansion in the shale space by being a one-stop-shop for key equipment and consumable supplies used in the pipeline construction, maintenance, and repair market. We look forward to working closely with the Cross Country management team to further expand the business.”

The Cross Country management team, led by John James, president, will continue to manage the company under Odyssey’s ownership.

“Odyssey’s investment in Cross Country signals a new and exciting chapter of growth for our company,” said James. “With the support of a leading financial partner, we are well prepared to execute our growth strategy by capitalizing on the enormous potential in the domestic oil and gas pipeline industry.”

Odyssey has a long history in the equipment rental industry, including current majority ownership stakes in RER 100 companies TNT Crane and Rigging and Safway Services. It also formerly owned Neff Rentals.

Cross Country’s inventory includes dozers, excavators, low-boy trailers, motor graders, skid-steer loaders, padding buckets, pipelayers, pipe benders, telehandlers, trenchers, pipe cutters, boring augers, beveling equipment, inspection/test equipment, hydraulic pumps, tack rigs and more.