Blackstone Industrial Services (Blackstone) has officially acquired the assets of Trican Pipeline & Industrial Services Business (TPIS Business) – an industry-leading, integrated pipeline services and industrial maintenance solutions company owned and operated by Trican Well Service Ltd.
The transaction closed June 30 and Blackstone, a leading Canadian critical rotating equipment services company, will now transition TPIS Business to operate under the new moniker of Blackstone Pipeline & Environmental Solutions Inc.
According to Alex Fulthorpe, executive vice president of Blackstone, the addition of Blackstone Pipeline & Environmental to Blackstone’s extensive industrial service areas accelerates their technical depth and the company’s growth momentum, in Canada and beyond.
“Taking on TPIS Business gives us more reach in the midstream space and with static critical equipment next to the kit that Blackstone currently maintains,” said Fulthorpe. “This allows us to provide expertise in spaces we don’t currently service and expand our offering with core clients.”
Founded in 2002, TPIS had earned a reputation in the industry for high-value engineered services in the maintenance of pipelines and critical static industrial equipment. With a long record of servicing oil and gas, that experience helped Trican establish a counter-cyclical service line.
“The world-class team at TPIS will help to further our strength as a long-term, vertically integrated player in industrial and energy services,” said Allan Schofield, president of Blackstone. “The acquisition of TPIS Business is an exciting step in Blackstone’s diversified approach to the energy marketplace and a step forward in our mission of becoming the most consolidated, dynamic and admired technical force in our time.”
Founded in 2002, and branded in 2012, Blackstone is now seven years into a robust growth strategy, concentrating on consolidation. They’re focused on high technical trades and critical engineering services in the process, power, pipeline and industrial core markets.
“We have great respect for the leadership team at Trican and their integrity,” said Fulthorpe. “This acquisition will provide us with a platform for new growth in the industrial and pipelines space.”
Dale Dusterhoft, president and CEO of Trican at the time of the acquisition, expressed his own enthusiasm for what he expects to be a successful and smooth transition.
“Blackstone has a great management team, and I know that our people are in good hands within this aggressively growing company,” said Dusterhoft. “TPIS Business is a good fit with Blackstone and will provide the business with needed scale, which will be a benefit to the customers, employees and all stakeholders involved in TPIS.”
As Blackstone works to integrate this new arm of the business into its operations, leadership is considering the current climate and looking to the future – and how their business can best serve the industry and its many stakeholders.
“We have all learned a valuable lesson in the adaptations to this global pandemic with respect to what is essential, both at home and in our economy,” said Fulthorpe. “Blackstone’s alignment with the TPIS’s pipeline and integrity work, industrial cleaning and abandonment, combined with a focus on indigenous relations, further supports that we are more than an essential service – we can be an institution in a time where examples of leadership are waning.”
For more information of Blackstone Pipeline & Industrial Services, please reach out to Alex Fulthorpe by phone.
Blackstone Industrial Services
Alex Fulthorpe, P.Eng.
403 993 5093