(Source: Savage)
Salt Lake City-based Savage announced the purchase of Texon, a Houston midstream service provider of butane blending and energy marketing.
The terms of the deal were not released with the announcement on May 1.
“With the acquisition of Texon, we’re adding an excellent team with deep expertise and an outstanding reputation in the energy space. We see tons of opportunities to drive value for our customers through our combined teams, assets and services,” Kirk Aubry, Savage president and CEO, said in a press release.
Texon was created in 1989 and specializes in blending butane into gasoline. It recently introduced its expertise into the international marketplace, according to the purchase announcement.
“When we decided to pursue a sale, we set an important goal that we’d only consider potential buyers who would invest in the business and provide opportunities for our team to grow and thrive,” Terry Looper, Texon’s Founder and retiring CEO, said in the press release. “We believe Savage is committed to growing Texon’s business in the right way, with excellent leadership, strategy and resources that will ensure a bright future for our team members and customers.”
Savage is an international company that focuses on supply chain infrastructure and solutions. The company works with electrical power generation, oil and gas production and refining and operates more than 50 rail-connected terminals in North America.
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