Savage, a prominent global supply chain and infrastructure firm, has solidified its foothold in the midstream energy sector with the strategic acquisition of Texon, a company headquartered in Houston, Texas, known for butane blending and energy marketing services. Texon will maintain its brand and continue operations, enhancing Savage’s energy services with its unique expertise and reputable standing in the industry. Kirk Aubry, President and CEO of Savage, has expressed enthusiasm in merging Texon’s expertise with Savage’s robust capabilities, aiming to deliver increased value for customers and integrating end-to-end supply chain solutions. Texon, since its inception in 1989, has positioned itself at the forefront of the industry with patented butane blending systems and has been a pioneer in introducing its butane blending expertise internationally. The legacy and future growth of Texon were critical to its Founder and retiring CEO, Terry Looper, who emphasized the importance of a buyer focused on nurturing the business and its team’s development. Evercore acted as the financial advisor for Texon throughout this acquisition. Savage, a company with a history dating back to 1946, provides extensive supply chain infrastructure solutions across the Americas and Saudi Arabia, operating with a goal to move and manage essential commodities for core industries sustainably and safely.
Supply Chain & Logistics, Energy and Utilities,United States, International
https://www.globenewswire.com/news-release/2024/05/01/2873474/0/en/Savage-Acquires-Texon-Strengthens-its-Position-in-the-Midstream-Energy-Space.html