Lacombe, LA, Release: April 15, 2021. For Immediate Release
Petro Guardian, an industry leader in physical asset protection, electrical services, and inspection services for oil and gas facilities, today announced the sale of its stake in Lythix, LLC to Fusion Engineering for an undisclosed sum.
Midland-based Lythix, LLC offers Electrical Engineering, UAV, Survey, and Power Procurement services to the energy sector in Texas.
Robert Morris, CEO of Petro Guardian, said, “After having worked with the Lythix team over the past 3 years to build out and expand the Engineering Project Management business, we are pleased that Fusion recognizes its future potential.
Going forward, the Petro Guardian management team will focus on continued investment in oil field electrical services and asset protection through our PG Electrical, PG Inspection, and Petro Guardian Lightning & Static Protection brands.”
The closing of the transaction was subject to usual and customary closing conditions, which were completed during the first quarter of this year.
About Petro Guardian
Petro Guardian and its brands PG Electrical and PG Inspections, provide oilfield electrical, construction, inspection, and lightning and static protection to many of the largest and most productive oil and gas producers in the United States. Their engineered protection plan has shielded over 50,000 tanks from the dangers of lightning and static discharge.