Kirby Corp continues to tread the acquisition trail as it snapped up an oilfield equipment manufacturer in a deal which could cost $320m.
The Joe Pyne-led tank barge operator has only recently bought a bunkering business and Monday’s purchase led it to boost its earnings forecast for this year.
NYSE-quoted Kirby has spent $270m in cash on United Holdings LLC, an Oklahoma-based manufacturer and distributor of products for the oil and gas industry.
