Kinder Morgan to acquire SouthTex Treaters

Kinder Morgan Energy has signed a purchase and sale agreement to acquire SouthTex Treaters for $155m.

SouthTex Treaters is a manufacturer, designer and fabricator of natural gas treating plants that remove carbon dioxide and hydrogen sulphide.

The acquisition will enable Kinder Morgan subsidiary Kinder Morgan Treating to build amine plants and provide its customers with the option to own or lease the equipment.

The transaction will be completed in the fourth quarter of 2011, and is accretive to cash distributable to KMP unit-holders.