Artera Completes Purchase of Otis Eastern Service
(P&GJ) — Artera Services, a natural gas and electric infrastructure services company, has completed the previously announced acquisition of Otis Eastern Service.
Simmons Energy, a division of Piper Sandler, served as the exclusive financial advisor to Artera, and Debevoise & Plimpton LLP is serving as legal counsel to Artera.
Founded in 1936, and acquired by current management in 1981, Otis Eastern Service has grown from a wellhead equipment supplier to a constructor of pipelines for midstream and transmission companies throughout the Northeast as well as gathering systems for producers in the Appalachian Region.
Headquartered in the Marcellus Fairway in Wellsville, NY, Otis Eastern has a long history of building complex and challenging pipelines.
They are experienced in pipeline construction up to 42 inches in diameter, in all types of locations and terrain, including densely populated urban areas and areas with the steep grades.
"I am pleased to welcome Otis Eastern to the Artera family. Their rich history and foundation of the business fit perfectly with our culture and values at Artera," stated Brian Palmer, CEO of Artera.
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