Skip to main content

5 Recent Mergers & Acquisitions of Houston-based Companies

Published Dec 20, 2021 by David Ruiz

HPE Campus Cropped 400x600

HPE Headquarters

As the global economy works to recover from COVID-caused losses and company share prices continue to rise, corporate dealings are also on the upswing. In October, Netherlands-based global services organization KPMG reported global mergers and acquisitions volumes had already surpassed $4.3 trillion, up from last year’s total of $3.6 trillion. Houston, the metro with the third largest concentration of Fortune 500 HQs in the U.S. (24), also reflects this economic growth through the flow of business dollars in mergers, expansions and acquisitions. We highlighted five recent M&As involving Houston-based companies.

Lime Rock Resources purchases Delaware Basin Property 

The oil and gas company Lime Rock Resources purchased Delaware Basin Property for $508.3 million in late September. At the effective transaction date, the property located in Texas’ Loving County was producing over 15,000 barrels of oil per day. This Texas land deal expands Lime Rock’s portfolio, registering the new property beside others in North Dakota, Montana, Arkansas, Oklahoma. 

Eric Mullins, Chairman and CEO of Lime Rock Resources, said the acquisition fits the organization’s strategy. “The high volatility in the energy business over the last 18 months has created some unique opportunities in the oil and gas property market. This acquisition is one of those opportunities,” Mullins said. 

Hewlett Packard Enterprise Co. acquires Zertov

HPE, which recently relocated its HQ to the Woodlands, purchased cloud data management and protection software firm Zerto for $374 million. The tech company headquartered in Boston and Herzliya, Israel, will become an essential addition to HPE GreenLake cloud services portfolio. The acquisition strengthens HPE’s position as a global leader in business information technology.

Tom Black, Senior Vice President and General Manager of HPE Storage, said data is an important asset in the digital economy. “Zerto’s best-in-class talent and technology expands HPE’s data management and disaster recovery capabilities, giving customers the ability to protect their data and recover in minutes from ransomware attacks,” said Black.

Hines, NPS purchase PG&E San Francisco Headquarters

The global real estate company Hines and Korean National Pension Service (NPS) closed a deal on Pacific Gas & Electric Company’s (PG&E) headquarters for $800 million. The newly acquired property in San Francisco is part of the Houston-based Hines’ and NPS’ $2.5 billion “Build to Core Development” strategy. The PG&E redevelopment consisting of 1.6 million square-feet in San Francisco’s Financial District marks the largest deal on the city’s Market Street in the last 10 years. 

Paul Paradis, senior managing director at Hines, said the PG&E HQ will allow Hines to innovate and provide next-gen workplaces. “The site of PG&E’s headquarters is undoubtedly one of the best locations along the entire West Coast and we believe these projects will be the epitome of the next generation of office buildings,” Paradis said.

Quanta Services acquires Blattner Holding Company 

The Houston-based infrastructure services company Quanta purchased the energy contractor for $2.7 billion. Minnesota-based Blattner, parent company of Blattner Energy Inc. and D.H. Blattner Sons Inc., will serve Quanta as a platform operating unit. Founded in 1907, Blattner’s addition to Quanta will position the Houston company as a leader in shaping the energy transition in the U.S.

Duke Austin, Quanta's President and CEO, said the energy infrastructure company will support Quanta’s role in the energy transition. “Blattner will bring an exceptional management team that we believe will enhance our ability to collaborate with our customers to shape North America's energy transition to a carbon-neutral economy,” Austin said. 

Honeywell acquires Performix

Honeywell, which relocated its Performance Materials and Technologies global HQ to Houston over the summer, acquired Houston-based Performix Inc. for an undisclosed amount last quarter. Performix, a manufacturing execution software and analytics company, will strengthen Honeywell’s life sciences role and its presence in Houston. With the acquisition, Honeywell’s portfolio increases to four essential divisions in Houston; Process Solutions, Performance Materials and Technologies, Rabellion Photonics and Performix Incorporated. 

Ujjwal Kumar, president of Honeywell Process Solutions, said Performix’s addition raises Honeywell’s presence in the biotech ecosystem. “Performix's manufacturing execution system software allows us to expand our capabilities and further accelerate Honeywell's connected life sciences vision of integrating data from multiple systems into a manufacturing ecosystem that assures quality, compliance and efficiency."

Learn more about Houston’s Economy and what makes the region a great place for business

Related News

Economy

Report: Houston's Strong International Ties Better Position Regional Economy for Global Economic Headwinds

5/12/23
HOUSTON — Houston’s trade ties with its global partners have largely recovered from the impacts of the pandemic, according to the Greater Houston Partnership’s latest Global Houston report.  The analysis documents how Houston’s international activity in 2022 continued to set records: The Houston-Galveston Customs District continues to rank first in the country in tonnage handled (exports and imports) with over 382.8 million metric tons. For the first time in history, the Houston-Galveston Customs District ranked first in total value with $372.6 billion, which typically ranks second behind Los Angeles/Long Beach. Exports topped $191.8 billion, well above the previous record of $140.8 billion set in 2021. Foreign direct investment (FDI) is back at pre-pandemic levels and continues accelerating. The Partnership documented 44 business expansions from companies headquartered overseas in 2022, up from 33 in 2021. In 2020, only 13 non-U.S. firms announced plans to expand or relocate operations in the region. International migration surged to 47,400, accounting for the largest share (38%) of the region’s population growth in 2022. International air traffic continues to edge closer to pre-pandemic levels. The Houston Airport System handled 10.4 million international passengers in 2022, up from 7.3 million in 2021 but still below the pre-COVID peak of 12.0 million in 2020.  The Port of Houston set a record for container traffic, handing nearly 3.2 million loaded TEUs (twenty-foot-equivalent units), a 17.9% increase over 2021. “The international metrics demonstrate Houston’s ties global economy continues to strengthen, positioning the region for continued growth despite global economic headwinds,” Partnership Chief Economist and Senior Vice President of Research Patrick Jankowski said. According to the report, the ongoing war in Ukraine, persistent inflation, and rising interest rates are key factors that continue to be speedbumps to growth but are not considered outright obstacles. “Any slowdown caused by macro forces will likely impact Houston only marginally,” Jankowski said. “Houston’s economy will continue to expand, create jobs, and attract new residents to the region.”   Other data included in the report reflects Houston’s influence as a global business hub:  Houston has trading relationships with more than 200 countries. The value of exports via the district has exceeded imports every year since 2013. Over 1,700 foreign-owned firms have an office, factory, distribution, or service center in Houston.  Nearly 150 Houston-headquartered companies operated subsidiaries outside the U.S.  Another section of the Global Houston report provides additional statistics and information about Houston’s international business ties and ranks the region’s top 20 trade partners. The value of goods and services traded increased among all leading partners in 2022, continuing the trend of growth. Top 10 Houston trade partners and the value of trade in 2022:  Mexico -- $32.1 billion, up from $21.6 billion in 2021. China -- $31.9 billion, up from $24.8 billion in 2021.  South Korea -- $24.6 billion, up from $16.2 billion in 2021.  Brazil -- $20.1 billion, up from $16.8 billion in 2021.  Netherlands -- $19.1 billion, up from $13.4 billion in 2021.  United Kingdom -- $16.4 billion, up from $9.9 billion in 2021. India -- $15.7 billion, up from $13.9 billion in 2021. Germany -- $15.0 billion, up from $12.0 billion in 2021. Japan -- $14.4 billion, up from $11.5 billion in 2021. Singapore -- $13.6 billion, up from $5.9 billion in 2021. View the trade profiles report here.  ### Greater Houston Partnership  The Greater Houston Partnership works to make Houston one of the best places to live, work and build a business. As the economic development organization for the region, the Partnership champions growth across 12 counties by bringing together business and civic-minded leaders who are dedicated to the area’s long-term success. Representing more than 950 member organizations and approximately one-fifth of the region’s workforce, the Partnership is the place companies come together to make an impact. Learn more at Houston.org.   CONTACT:           Brina Morales                                                 Director, Communications      bmorales@houston.org       (c) 832-287-5089             
Read More

Related Events

Economic Development

Abundance in Africa: Opportunities Across Continents

The potential for international investment and trade with Africa presents opportunity for Houston businesses and professionals. In 2021, Africa accounted for 1.6% of imports to Houston and 3.6% of exports from…

Learn More
Learn More
Executive Partners