Erie, Pennsylvania – January 31, 2014 – High Pressure Equipment Company (“High Pressure”), a portfolio company of Wasserstein Partners III, has acquired Staffordshire Hydraulic Services Ltd. (“SHS”), one of the United Kingdom’s leading distributors and designers of high pressure equipment, from entrepreneur William S. Thompson. SHS, of Stoke-on-Trent in Staffordshire, has been a key distribution partner of High Pressure for over 40 years. In addition, SHS markets its own highly-engineered line of standard and customized high pressure power, pump, injection and test units, with application in the oil and gas, power generation and other industrial markets.
Larry Loper, President of High Pressure, commented, “SHS is a leader in the high pressure market with whom we have collaborated productively for many years. We are excited to partner with the dedicated and talented management team of SHS to better serve our customers in the North Sea market and throughout the United Kingdom.”
“SHS has a long-standing leadership position in a fast-growing industry,” added Robert Fogelson, Managing Director of Wasserstein & Co. “This partnership provides High Pressure with a solid foundation to accelerate growth in international markets.”
“After devoting 42 years to building SHS to its current status in the high pressure industry, it is the right time to transition ownership of the company,” said Bill Thompson. “Based on our long association, I know that High Pressure Equipment has the product offering, resources and business philosophy to help our customers and employees prosper for decades to come.”
About High Pressure Equipment Company
High Pressure Equipment Company is one of the world’s leading manufacturers of specialized valves, fittings, tubing, accessories, reactors and customized products with pressure ratings up to 150,000 p.s.i. The company has particular expertise with specialty metals including Hastelloy, Inconel, Monel and titanium. End-use applications include oil and gas exploration, topside and subsea production and test equipment, waterjet cutting and blasting, chemical, industrial gas, research and many more. High Pressure was founded in 1954 in Erie, Pennsylvania, where it remains today. In 2012, Wasserstein Partners III, a private equity fund managed by Wasserstein & Co., acquired a majority equity interest in High Pressure from the family of Douglas James. For more information, please visit www.highpressure.com.
About Staffordshire Hydraulic Services
Staffordshire Hydraulic Services is a leading manufacturer and distributor of high pressure test equipment and accessories in the North Sea market. Founded in 1972, SHS provides expertise in the design and manufacture of standard and custom-built air driven liquid and gas test equipment, chemical injection units, bolt tensioning power packs and offshore consoles to ISO9001 standards. For more information, please visit www.staffshydraulics.co.uk.