Milford Companies has reached an agreement to sell Bull Creek Pipeline Services
Milford Companies announced that it has entered into a definitive agreement to sell its pipeline construction division to Bull Creek Pipeline Services. This strategic move allows Milford to concentrate on retail sales, distribution, rental, manufacturing of pipeline products, and technical services. The financial terms of the transaction were not disclosed.
Chase Brown, Milford's Chief Operating Officer, says, "2022 is Milford's 50th year in business. We've taken the downtime during the pandemic to reflect and identify where we truly bring unique value to the marketplace. For our 50th anniversary, we are focused on providing innovative solutions to the pipe, valve, and fitting world with a more tailored customer experience in mind. Selling our pipeline construction division to Bull Creek is a great step in that direction. We are confident that Bull Creek will carry on a level of service that our customers & employees will be pleased with for the foreseeable future."
"We are excited to bring Milford's pipeline division under the Bull Creek umbrella. This like-minded addition allows us to expand our footprint in the Permian Basin and other regions. At Bull Creek, we know our people make the business. With that in mind, it only makes sense to add Milford's experience and dedication to customer service," said Bull Creek founder Blake Deaton.
Shawn Beard, Milford's Chief Executive Officer, says, "Divesting our pipeline construction division frees up significant growth capital for the next phase of our strategic plan. We have many new products and technical services in development that will hit the market very soon. Stay tuned as we continue our pursuit of being The Stronger Choice."
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