Integrated Pipeline Services Completes Acquisition

Integrated Pipeline Services completes the acquisition of century old Sheehan Pipe Line Construction Co.
Financial terms were not disclosed. Sheehan, a pipeline construction and maintenance company created in 1903, will remain in Tulsa.
“This is a terrific opportunity for us,” said David Sheehan, long-time CEO of Sheehan and great grandson of the company’s founder.
Sheehan has completed more than 23,000 miles of pipelines since its founding in Indian Territory four years before statehood.
Company founder John Sheehan, born in 1852, came to Tulsa at the turn of the century to get involved in the oil business. In 1903, he and his “gang” laid some of the first pipelines in the rugged oil fields of Indian Territory, working for industry giants like Josh Cosden and Harry Sinclair, according to the Sheehan Web site.
Sheehan will remain CEO of Sheehan Pipe Line Construction and will join the board of directors of IPS. Rob Riess, current President and COO of Sheehan Pipe Line Construction, and Kent Schobe, vice president of Engineering, will continue in their respective roles with the company as will the rest of the senior management team.
Sheehan, Riess, and Schobe will hold a significant ownership interest in IPS.
“We are pleased to partner with Sheehan and play a role in supporting the company’s next phase of substantial growth in revenues and profitability,” said John Allcorn, CEO of Integrated Pipeline Services.
The relationship with IPS and IPS’s financial backer, energy investor GFI Energy Ventures, gives Sheehan added capital, resources and expertise, said David Sheehan.
“It allows us to expand our service offerings and further serve our customers,” he said. “With the current energy market trends and the financial and operational backing of IPS and GFI, we see an exciting, growth-oriented future for our company.”

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