Savage, a global provider of supply chain infrastructure and solutions based in Salt Lake City, has acquired Texon, a Houston-based midstream service provider of butane blending and energy marketing. Texon will continue to operate under its legacy brand with no disruption for its operations and employees, Savage said in its acquisition announcement.
“With the acquisition of Texon we’re adding an excellent team with deep expertise and an outstanding reputation in the energy space. We see tons of opportunities to drive value for our customers through our combined teams, assets and services,” said Kirk Aubry, president and CEO of Savage. “We’re excited to welcome the Texon team to Savage and continue to connect end-to-end supply chains.”
Founded in 1989, Texon specializes in blending butane into finished gasoline and holds patent rights around the world. Its systems are designed for use in pipelines, depots and terminals, marine docks and truck loading racks. Texon does business across the continental U.S. and has begun introducing butane blending expertise into the international marketplace.
“When we decided to pursue a sale, we set an important goal that we’d only consider potential buyers who would invest in the business and provide opportunities for our team to grow and thrive,” said Terry Looper, Texon’s founder and retiring CEO. “We believe Savage is committed to growing Texon’s business in the right way, with excellent leadership, strategy and resources that will ensure a bright future for our team members and customers.”
Savage’s infrastructure business supports the energy industry by providing multi-modal transportation and logistics solutions and assets for electricity generation, oil and gas production and refining, and liquid renewable fuels refining. The company operates over 50 rail-connected transload terminals across North America. Established in 1946, Savage is a privately held employer of more than 4,000 people in about 200 locations across the United States, Canada, Mexico and Saudi Arabia.