Worthington Industries sold its oil and gas equipment business to an affiliate of Ten Oaks Group. The divestiture includes the related operating assets located in Bremen, OH, and Tulsa, OK. Worthington Industries retained the real estate associated with the business and is leasing it back to the new owners, who will operate the business as Westerman.

“We’re pleased to find a family-owned buyer in Ten Oaks that can better position our oil and gas equipment business for success,” Andy Rose, president and CEO of Worthington Industries, said. “The employees in this business are dedicated and have worked tirelessly to bring innovative solutions to the markets they serve. We are grateful for their contributions to Worthington and wish them success moving forward.”

Worthington Industries received nominal consideration at closing and may receive additional consideration in the future.

Worthington Industries is an industrial manufacturing company.