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Moving Forward
KRG Capital Partners acquires Universal Ensco, Inc. and Pegasus International, Inc.
February 26, 2008
KRG Capital Partners (KRG), a Denver-based private equity firm, announced on February 26, 2008 that it has completed a control investment in Universal Ensco, Inc. (Universal) and Pegasus International, Inc. (Pegasus) (combined, the Company). Universal is a leading provider of engineering, project management, survey, and inspection services related to onshore gas, oil and liquid product transportation systems. Pegasus is also a rapidly growing provider of engineering and project management services to the oil and gas industry with a focus on subsea and offshore projects in both domestic (Gulf of Mexico) and international markets. The Universal and Pegasus acquisitions represent the 10th platform company for KRG's $715 million Fund III and the 31st platform since KRG's inception. Management of both Universal and Pegasus will continue to be significant owners in the combined entity.
KRG's objective is to build a unique, world-class company that provides its clients with a broad range of engineering and project management services related to both the onshore and offshore collection, transmission and processing of hydrocarbons and hydrocarbon-based products.
Founded in 1961, Universal employs over 1,200 personnel and has completed over 3,500 pipeline projects for hundreds of clients in the oil and gas industry throughout North America as well as in China, the Middle East, the former Soviet Union, South America and Africa. Headquartered in Houston, Universal has locations in Tulsa, OK; West Monroe, Shreveport, Mandeville, LA; South Bend, IN; and Ankara, Turkey; Baku, Azerbaijan; Ashgabat, Turkmenistan.
Pegasus has over 550 employees and has completed projects in over 50 countries including the Gulf of Mexico, North Sea, West Africa, Middle East and South East Asia regions. Headquartered in Houston, Pegasus has locations in Lafayette, LA; Salt Lake City, UT; London and Manchester, England; and Aberdeen, Scotland; Lagos, Nigeria; Lima, Peru.