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Slide #96. Matrix Service Company — Certain assets and employees from Pelichem Industrial Cleaning Services, LLC
Matrix Service Company (NASDAQ:MTRX)
Certain assets and employees from Pelichem Industrial Cleaning Services, LLC
Matrix Service Company announced that its subsidiary, Matrix Service Inc., acquired certain assets and employees from Pelichem Industrial Cleaning Services, LLC ("Pelichem") on December 31, 2012. Pelichem is a privately-owned industrial cleaning services provider based in Reserve, Louisiana, who has served refining and petrochemical customers for over ten years. This acquisition furthers our strategic plans to grow the industrial cleaning business. While the terms of the acquisition were not disclosed, the acquisition purchase price was less than $10 million and funded with cash on hand.
Matrix Service provides engineering, fabrication, infrastructure, construction, and maintenance services to the oil, gas, power, petrochemical, industrial, agricultural, mining and minerals markets. Co.'s segments are: Electrical Infrastructure, which consists of power delivery services provided to investor owned utilities; Oil Gas & Chemical, which serves customers who are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids; Storage Solutions, which consists of work related to aboveground storage tanks and terminals; and Industrial, which consists of work for various industries, including various mining and minerals companies.
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