Savage recently acquired Texon, a Houston-based midstream provider of butane blending and energy marketing.
The addition of Texon and its team, which will continue to operate under its legacy brand, “significantly” bolsters Savage’s existing energy business, the company reported.
“With the acquisition of Texon, we’re adding an excellent team with deep expertise and an outstanding reputation in the energy space,” Kirk Aubry, Savage president and CEO, said in a news release. “We see tons of opportunities to drive value for our customers through our combined teams, assets, and services.
“We’re excited to welcome the Texon team to Savage and continue to connect end-to-end supply chains.”
Founded in 1989, Texon is a pioneer of blending butane into finished gasoline and holds patent rights around the world, Savage said. Texon’s proprietary blending systems are customized to test gasoline and optimally blend butane and other natural gas liquids to meet finished product quality, safety, and regulatory requirements. Its systems are designed for use in pipelines, depots/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.
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 through its Savage transload network.
“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 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.”