Magnolia River International, a leading provider of engineering, inspection and geographic information system (GIS) solutions for utilities, announced Jan. 11 the acquisition of the assets of Leakage Investigative Services Co. (LiSCO), through a newly formed subsidiary, Surview Field Services.
LiSCO has provided superior leak survey services and equipment sales/repair to the natural gas industry in the Southeast United States for decades. Owner, George Reid, bought LiSCO in 1984 and has spent the last 36 years building lifelong relationships and serving the industry.
“As I entered the latter stages of my career, I carefully considered how to transition the company, while thinking about the future of my employees and ensuring the continuing quality the industry associates with the LiSCO name,” Reid said.
With the transaction, Surview acquires a work force with invaluable industry expertise as well as the asset base of a proven leak detection company. Clients with ongoing leak surveys will see no interruption thanks to the teamwork between both groups during the transition.
Magnolia River has big plans for additional technology to enhance the experience of leak survey clients.
“Magnolia River plans to leverage our technology platform to increase the value of offerings for its clients in an ever changing technological and regulatory environment,” said Magnolia River chief technology officer Hayden Strickland.
Specifically, FlowGIS will be used to help utilities track leaks, repairs and can even be used in combination with another software tool developed by Magnolia River, atRisk, to determine risks and replacement schedules.
“Magnolia River’s recent acquisition of LISCO’s assets and personnel provides a major growth opportunity for our businesses through an extended service offering for our clients,” said Magnolia River president Heath McCleskey.
With the acquisition, Magnolia River expands the service offerings it provides to the industry beyond Engineering, Inspection and GIS services. Surview is the vehicle that will be used to expand the company’s field service offerings to meet the regulatory challenges of the future. In addition to enhancing the technology and providing new service offerings, Surview also plans to expand geographically to those who have come to trust Magnolia River as a provider of quality service at a fair price.Tags: Leak Detection, Leakage Investigative Services Co., Magnolia River International (MRI), Surview Field Services