Baton Rouge-based Edgen Group Inc. has acquired HSP Group Ltd., a United Kingdom-based valve company with customers worldwide.
Details of the cash-and-stock deal were not disclosed.
Edgen acquired the company through subsidiary Edgen Murray Europe Ltd.
The acquisition complements Edgen Murray’s services to customers by adding valve brand and actuation services — actuators open and close valves. HSP sells mainly to exploration and production, refining, petrochemical and power companies in the United Kingdom, Middle East and Caspian regions.
HSP Chief Executive Officer Peter Everett and his staff joined Edgen Murray under the deal. HSP’s projected revenue for 2012 is $37 million.
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