Hawk Manufacturing Purchase Ushers In New Oil Service Company
Purchased the full-service heavy truck and trailer company that sells and leases used trucks and trailers.
Charlotte, N.C.-based Hawk Manufacturing Inc. has shelled out $9.5 million to acquire Trump Equipment Co. (TEC) Inc. in Texas in a move that will diversity its operations, the company announced Sept. 27.
The acquisition marks Hawk’s first move into the oil services arena, allowing the company to service shale and other oil fields that include the Utica shale, Permian Basin, Eagle Ford shale and the shale oil finds in Colorado, Wyoming and North Dakota.
San Antonio, Texas-based TEC is a full-service heavy truck and trailer company that sells and leases used trucks and trailers such as lowboys, end dumps, vacuum trailer and vacuum pumps. The company has three locations – San Antonio, New Braunfels and Victoria.
The Trump Equipment acquisition will add 48 full-time jobs to Hawk Manufacturing, as well as $15 million-plus in annual revenues, and earnings before taxes of more than $2 million.
TEC President Michael J. Vincent will join Hawk’s senior management team and will continue to run the day-to-day operations of the company.
Hawk, a partner of Global Earth Energy Inc., is “a knowledge based solutions provider to the oil, gas and power sectors in the Middle East, the Gulf, Europe and the United States,” according to the company’s website.