News

Erie, PA - February 25, 2014 - High Pressure Equipment Company (HiP), one of the world's leading manufacturers of specialty valves for high pressure applications, has acquired Staffordshire Hydraulic Services Ltd. (SHS), one of the United Kingdom's leading distributors and designers of high pressure equipment. SHS has been a key distribution partner for HiP for over 40 years. Additionally, SHS markets its own line of standard and customized high pressure equipment with application in the oil and gas, power generation and other industrial markets.

Larry Loper, President of High Pressure Equipment commented, "SHS is a leader in the high pressure market with whom we have collaborated productively for many years. Together with our investment partners at Wasserstein & Co., we believe the talented management team and excellent product offering of SHS will enable us to better serve our customers in the North Sea market and throughout the United Kingdom.”

About High Pressure Equipment Co.: High Pressure Equipment Company is one of the world's leading manufacturers of specialized valves, fittings, tubing, accessories, reactors and customized products with pressure ratings up to 150,000 p.s.i. The company has particular expertise with specialty metals Hastelloy, Inconel, Monel, and titanium. End-use applications include oil and gas exploration, topside and subsea production and test equipment, waterjet cutting and blasting, chemical, industrial gas, research and many more. High Pressure was founded in 1954 in Erie, Pennsylvania, where it remains today. In 2012, Wasserstein Partners III, a private equity fund managed by Wasserstein & Co. acquired a majority equity interest in High Pressure. For more information, please visit www.highpressure.com

About Staffordshire Hydraulic Services: Staffordshire Hydraulic Services, of Stoke-on-Trent in Staffordshire, is a leading manufacturer and distributor of high pressure test equipment and accessories in the North Sea market. Founded in 1972, SHS provides expertise in the design and manufacture of standard and custom-built air driven liquid and gas test equipment, chemical injection units, bolt tensioning power packs and offshore consoles to ISO9001 standards. For more information, please visit www.staffshydaulics.co.uk