New Merger Benefits Petroleum Operators

 

Two of the most dominant players in the country’s Underground Storage Tank (UST) services market are joining forces in a strategic alliance to provide petroleum operators throughout the Mid-Atlantic and Northeastern U.S. with turn-key UST compliance, repair and maintenance and construction solutions.

 

Austin, Texas-based Tanknology Inc, the nation’s largest provider of environmental compliance testing services for petroleum systems, and Farmingdale, N.Y.-based Tyree, one of the country’s largest multi-dimensional petroleum and environmental services companies are combining their services to provide complete compliance testing, maintenance and environmental services program for petroleum operators.

 

Tanknology provides compliance testing and related services, including UST tank and line tests, Stage I and II vapor recovery system testing, cathodic protection services and PetroScope visual internal tank inspections. Meanwhile, Tyree’s business focuses on petroleum site investigations; tank, pump and related equipment maintenance services; emergency response and remedial programs; and site design and construction.

 

“The combination of Tanknology and Tyree services is a perfect fit for the petroleum operator,” said Richard Oswald, president and COO of Tyree. “Tanknology is the recognized leader in the environmental compliance services and testing side of the business, while Tyree’s expertise includes construction planning through site development, full petroleum-related maintenance services, and site remediation-in other words, handling the site issues that Tanknology uncovers. There is virtually no overlap in our services, which will greatly expand the value we each bring to our customers.”

 

“Tyree is a large, well-established petroleum services company, with more than 75 years of history serving this marketplace,” said Allen Porter, president and CEO of Tanknology. “We are excited about the potential that this alliance brings to our two companies and the greatly enhanced value proposition for our clients.”

 

Oswald said both he and Porter see the potential for immediate increases in sales for both companies through this alliance, and look forward to creating new client relationships as a result of their combined capability. “This is great marriage, that we are extremely excited about,” Oswald said.

 

With combined annual revenue of more than $100 million, Tanknology and Tyree are two of the largest companies in the UST services and testing marketplace. 

 

 

 

 

 

css.php