The Tulsa-based private equity fund Argonaut Private Equity announced it has made a major investment in Mammoth Carbon Products, a Houston-based pipeline distribution company.
Mammoth is considered an industry leader in carbon steel pipe distribution and services for the energy infrastructure markets.
Established in 2014, Mammoth currently services the North American market focusing in Texas and Colorado. With completion of the investment, Argonaut will partner with Mammoth to continue its expansion into markets in the Northeastern US, Canada and California.
“Mammoth is well positioned to significantly impact the distribution of steel pipeline in North America to meet demand,” said Steve Mitchell, CEO of Argonaut. “This acquisition provides the opportunity to leverage Argonaut’s experience, affiliates and relationships in the midstream market.”
Mammoth has long-standing relationships with steel mills to address pipeline projects, as well as an extensive inventory of carbon steel pipe products of various diameters and thickness. This allows Mammoth to respond to the shorter lead time needed for the maintenance and repair market.
“We are known for our quick response time and providing exceptional customer service. Aligning with Argonaut ensures we retain our service model while adding industry strength and resources to broaden our scope,” said Mammoth President Mike Ellis.
Founded in 2002, Argonaut Private Equity is a private equity firm that manages investments across multiple asset classes with $3 billion of capital deployed in direct investments in industry sectors including energy services, manufacturing and industrials.
Terms of the transaction were not announced.