Federal Steel Supply Acquires Venture Pipe & Supply
Westbridge Capital is pleased to share that our portfolio company, Federal Steel Supply (“FSS”) has acquired Venture Pipe and Supply, Inc. (Venture). The acquisition introduces another exciting growth opportunity for the company.
Venture successfully operates six oilfield supply stores throughout Oklahoma, New Mexico, and Ohio. Since its founding in 1989 by Ernie Brooks, Venture has developed a loyal customer base for oilfield hookups and pipeline services by supplying pipe, valves, fittings, flanges, and exceptional customer service.
Following the acquisition, Venture will be led by an experienced team member, Jeret Higgs, as Venture’s founder prepares to retire. Jeret is a seasoned executive and the Federal Steel Supply team is excited to welcome him as a valued member of our management team.
Scott Harris, Federal Steel Supply’s CEO, commented “We are pleased to be able to add Venture Pipe and Supply to our family of companies. Venture is a great company with a solid reputation as an oilfield supplier of pipe, valve and fitting products and value-added services. This acquisition is a strategic add-on that will help expand our customer base and geographic footprint. As a complementary business, Venture will further allow us to serve our customers from a growing number of locations across the US.”
About Federal Steel Supply
Federal Steel Supply (“FSS”) is one of the largest stocking distributors of large-diameter, heavy-walled carbon steel and chrome-moly tubular products in the United States supplying multiple grades of pipe covered by ASTM, ASME, and API specifications. Along with our subsidiary Process Piping Materials (“PPM”), the combined company services various industries worldwide, such as oil and gas, power generation, original equipment manufacturers and various fabricators and contractors that support these industries. For more information, please visit https://www.fedsteel.com.
About Westbridge Capital Ltd.
Westbridge Capital is a private equity management company. Westbridge Capital focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and Volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust (the Fund) is a Canadian-domiciled Mutual Fund Trust managed by Westbridge Capital. The Fund makes high-yield loans to mature operating companies and distributes the associated income stream to investors through monthly distributions.
