ATLANTA, Aug. 26, 2020 /PRNewswire/ -- Artera Services, LLC ("Artera") one of the nation's largest providers of integrated infrastructure services to natural gas and electric industries announced it has entered into an agreement to acquire Otis Eastern Service, LLC ("Otis Eastern") today. Otis Eastern is a highly strategic fit with Artera, expanding and strengthening its position as a leader in the infrastructure services industry. This transaction marks the second within six months, reinforcing Artera's commitment to building its position as the industry-leading provider of safe and reliable services to the natural gas and electric industries.
Located in Wellsville, New York, Otis Eastern has been in operation since 1936 as a contractor of pipelines for midstream and utility companies throughout the Northeast and Appalachian regions. This company employs about 600 employees and serves its customers in seven states with a rich history of three generations leading the company.
"This combination with Otis Eastern provides Artera an opportunity to expand our geographic territory and sustain the existing long-term relationships with their customers," said Brian Palmer, CEO of Artera Services. "Otis Eastern is a highly complementary fit with a shared commitment to safety and to high-quality, reliable services to its customer base, with a focus on recurring maintenance and repair work on existing infrastructure. We welcome Otis Eastern and are looking forward to the opportunities this brings for our people and our business as we continue to serve our customers, focusing on our shared values."
Day-to-day operations will continue to be run by Casey Joyce, President, and CEO of Otis Eastern, who will work closely with Palmer. "This is a great opportunity to grow our business. Our company values align with Artera's culture, and we are looking forward to what is next for our business," stated Joyce. "Our employees and customers will receive the same high-quality service they have come to expect now, and after the integration process."
Otis Eastern will maintain its headquarters in Wellsville, New York.
Simmons Energy, a division of Piper Sandler, served as the exclusive financial advisor to Artera, and Debevoise & Plimpton LLP is serving as legal counsel to Artera.
About Otis Eastern Service, LLC
Otis Eastern Service, LLC, based in Wellsville, NY, is a superior contractor of pipelines for midstream and utility companies throughout the Northeast for more than 84 years. Established in 1936 with a background of three generations, Otis provides a reputation of expertise in complex and challenging pipeline projects across 7 states and 600 employees. For more information, visit www.otiseastern.com
About Artera
Artera, headquartered in Atlanta, GA, is a $2 billion in revenue industry-leading provider of integrated infrastructure services to natural gas and electric industries across 34 states. Artera employs more than 8,500 people throughout the United States and has a focus on maintenance, replacement and upgrade ("MRU") of existing infrastructure. Artera's business units are recognized market leaders, have long-standing operating histories in the industry and are well respected for shared common core values of Safety, Quality, Commitment, and Reputation. For more information, visit www.artera.com.
SOURCE Artera Services
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