Orbital Infrastructure Group (OIG) and Mangan have entered into an asset purchase agreement under which OIG will sell its Houston, Texas gas business, Orbital Gas Systems North America (Orbital NA), to Mangan.
Effective immediately, Mangan will assume operations of Orbital’s North American gas business. Under the terms of the agreement, OIG will maintain ownership and control of its proprietary VE Technology and related products.
“This transaction is the final step in Orbital Infrastructure Group’s transformation into a diversified infrastructure services company as we move forward with an aggressive and disciplined strategy to tap into the increasing secular demand trends across the electric power, telecommunications and renewable industries,” said Jim O’Neil, vice chairman and CEO of Orbital.
“I want to thank the employees of Orbital Gas Systems NA for their past service to OIG and congratulate Mangan for completing this compelling strategic transaction.”
Amin Solehjou, Mangan’s CEO, stated: “We are very excited about this strategic acquisition and the value it brings to our customers.
“Coupled with our strong North American presence in providing Specialty Engineering services to many of our customers in the Industrial Market, this acquisition adds meaningful turnkey capabilities towards solving our clients’ environmental compliance as well as on-line process measurement challenges.”
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