Enerflex Assimilates Axip’s Overseas Ops
Former Valerus fleet totals 448 compressors
Enerflex Ltd. of Calgary has completed its US$430 million purchase of Axip Energy Services’ international contract compression and processing operations, as well as its after-market services business.
The acquisition, which had been announced June 1, did not include Axip’s U.S. assets. Axip is the former Valerus Compression Services. It became a stand-alone company on Jan. 3, following the sale of Valerus Field Solutions to Kentz Corp. Ltd.
Headquartered in Houston, Axip’s international business operations were in Mexico, South America, Southeast Asia and the Middle East.
The acquired assets included a 448 unit compression fleet totaling 285,000 hp (212 MW) with utilization above 90% and an average age of 5.5 years. Other assets include gas treatment facilities in Mexico, Argentina and Peru.
All 173 Axip international employees have joined Enerflex.