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Edgen Group Inc. (NYSE: EDG), through its subsidiary, Edgen Murray Europe Ltd., a global distributor of specialty steel products for energy and infrastructure markets, has acquired U.K-based HSP Group Ltd. to enhance its valve and actuation offerings. Terms were not disclosed.
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HSP sells valves and actuation products to customers in global oil and gas offshore, refining, petrochemical and power markets from locations in the United Kingdom, Qatar and the United States. HSP’s CEO Peter Everett and his staff have joined Edgen Murray.
“The integration of the HSP business will allow us to better meet the needs of our shared and new customers in the energy sector across Europe, the Middle East and the Caspian region,” said Craig Kiefer, Edgen Murray president.
HSP’s projected sales for 2012 are £23 million (US$37 million).