Keystone Capital, Inc. (“Keystone”) is pleased to announce it has completed the acquisition of Lane Power & Energy Solutions, Inc. (“LPES” or “the Company”), a leading provider of underground hydrocarbon storage solutions for petrochemical facilities, midstream operators, and governmental agencies.
The LPES management team deploys 40 years’ experience and deep construction expertise to provide turnkey Engineering, Procurement, and Construction (EPC) services tailored to specific client needs. From preliminary studies and initial siting to the construction and commissioning of power and energy facilities, LPES solves complex operational challenges for efficient power delivery and product storage. They work to provide the technical expertise, equipment, and construction know-how to successfully deliver projects around the world. Michael Tritt, President of LPES, along with Executive Vice President Tim Reichwein, will continue to lead the talented team. For more information on LPES, please visit www.lanepes.com .
Mike Tritt and Tim Reichwein noted, “We are thrilled to begin our partnership with Keystone Capital. We see tremendous opportunity to build on the strong foundation we have developed over many years. Keystone’s unique approach to patiently investing their personal capital alongside management with a focus on long-term value creation is the perfect fit for our employees and our clients. In addition, Keystone’s deep understanding of construction and engineering service businesses will provide us with an experienced strategic partner to help achieve our goals for organic growth and complementary acquisitions.”
“Keystone is excited to partner with the experienced team at LPES to continue building on their success serving clients with differentiated hydrocarbon storage solutions” commented David Greer, Managing Director at Keystone Capital. “We and management see a substantial opportunity to further enhance our differentiated capabilities, expand our service offerings, and broaden our geographic reach through internal growth initiatives as well as targeted acquisitions.”
Terms of the transaction are not being disclosed; legal counsel was provided to Keystone by Honigman Miller Schwartz and Cohn, LLP.