Stewart & Stevenson
| Company type | Public (until 2006), then private |
|---|---|
| Industry | Manufacturing, distribution |
| Founded | 1902 in Houston, Texas, United States |
| Founder | C. Jim Stewart, Joseph R. Stevenson |
| Fate | Vehicle division sold to Armor Holdings in 2006; remaining operations acquired by Hushang Ansary; acquired by Kirby Corporation in 2017 |
| Headquarters | Houston , United States |
Area served | International |
Key people | Anthony James Davis (CEO since February 2016) |
| Products | Oilfield equipment, power generation units, vehicle maintenance and customization, railcar movers, diesel and natural gas engines, transmissions, materials handling machinery |
| Parent | Kirby Corporation (since 2017) |
Stewart & Stevenson operates as a manufacturer and distributor catering to sectors such as oil and gas, marine, construction, power generation, transportation, mining, and agriculture.
History
Established in 1902 in Houston, Texas, by C. Jim Stewart and Joseph R. Stevenson, the company originally functioned as a blacksmith and carriage workshop. By 1905, it undertook its first automobile repair and transitioned its primary focus to vehicle maintenance and customization by the 1920s. In 1923, it became an authorized distributor of GMC trucks and started fabricating various truck bodies.
Between 1938 and the 1950s, Stewart & Stevenson manufactured specialized “swamp buggies” supporting oil exploration activities along the Gulf Coast. Entering the aircraft ground support equipment market in 1958, the company utilized GM Detroit Diesel engines to design nearly 1,000 self-propelled ground power units for leading airlines. By 1959, it had also become a distributor for Hyster forklifts.
Throughout the 1960s, the firm introduced oilfield service vehicles under the "Fieldmaster" brand and expanded its ground support product line with tow tractors and hydraulic fracturing pump trucks. From 1963 to 1966, it diversified into gas-turbine engines and recreational boats. The Land Leveler vehicle for rice field preparation was launched in 1969. The 1970s witnessed the creation of the Thermo King division alongside growth in GM Detroit Diesel engine sales within Venezuela.
In 1980, Stewart & Stevenson commenced manufacturing GE gas turbine power units tailored for offshore drilling platforms. By 1985, it had entered the power generation market through California Cogen and vied for contracts such as the U.S. Army’s M939 A2 truck program. Between 1987 and 1992, a collaboration with Mercedes-Benz produced approximately 700 “Starship” transit buses.
The company secured exclusive distribution rights for Electro-Motive Diesel engines across ten southern U.S. states, Mexico, and Central America in 1988. The following year saw the addition of a John Deere light industrial dealership.
During the 1990s, Stewart & Stevenson introduced the Rail King railcar mover; secured a $1.2 billion contract to manufacture trucks for the U.S. Army; acquired Foley Valves (specializing in oilfield equipment) and PAMCO (focused on gas compression and generating machinery); and partnered with European Gas Turbines Ltd. The company marketed large self-propelled snow removal equipment for airports and roadways while competing in military vehicle programs such as the Medium Tactical Vehicle Replacement (MTVR) and Family of Medium Tactical Vehicles (FMTV), based on Steyr designs.
In 2000, it divested its gas turbine division to GE Power Systems and acquired TUG aircraft ground support vehicles. The John Deere dealership was sold in 2001 coinciding with the establishment of the Specialty Wheeled Vehicle Division. On October 18, 2002, Stewart & Stevenson went public on the New York Stock Exchange under the ticker symbol "SVC."
The vehicle division was sold to Armor Holdings in 2006; subsequently, remaining operations were acquired by Hushang Ansary.
Anthony James Davis assumed leadership as CEO starting February 2016.
On September 13, 2017, Kirby Corporation (NYSE: KEX) acquired Stewart & Stevenson, integrating it into Kirby's Distribution and Services segment.
Product offerings
Stewart & Stevenson produces a variety of oilfield equipment including truck-, trailer-, and skid-mounted fracturing blenders and pumpers. Its product range also encompasses units for chemical additives, cementing services, coiled tubing operations, nitrogen pumping, control systems, and power generation solutions. Additionally, it manufactures land-based drilling rigs, workover rigs, well servicing rigs, along with Rail King railcar movers. The company distributes diesel and natural gas engines, transmissions, and materials handling machinery through collaborations with OEMs such as MTU, Detroit Diesel, DEUTZ, and Allison Transmission. Comprehensive aftermarket parts, maintenance services, and rental options are offered to an extensive clientele. Headquartered in Houston since its inception in 1902, Stewart & Stevenson serves international markets via a widespread network of domestic and overseas sales and service facilities.
The firm also manufactures 335KW 480V diesel generators designed for critical environments including hospitals.
Its market segments encompass Oil & Gas, Power Generation, On-Highway/Transportation, Rail, Marine, Mining, Construction/Industrial, Agriculture, as well as Military/Government sectors.