Pipeline Technique has agreed to acquire the oil and gas division of pipeline services and equipment company Stanley Black & Decker.
The Aberdeenshire-based onshore and offshore infrastructure welding, coating and fabrication services company is to acquire the three companies that make up the division: CRC-Evans, Pipeline Induction Heat and Stanley Inspection – including MicroAlloying, part of Stanley Inspection.
The oil and gas side of the business generated revenues of approximately $140 million in 2021. When complete, the Pipeline Technique group is expected to generate revenues in excess of $200 million.
The agreement means that Pipeline Technique can now serve every part of the energy mix, including oil and gas, renewables and carbon capture, as well as the wider infrastructure sector.
Frédéric Castrec, Managing Director of Pipeline Technique, said: “This agreement is a major step in our journey of diversification and global growth, and the timing of this acquisition could not be better as the industry undergoes significant change.
“We will invest in businesses to ensure rapid growth and help realize our enormous potential.”
This acquisition triples Pipeline Technique’s turnover and increases its workforce from approximately 350 people to more than 1,000.
This is the second acquisition in three months for Pipeline Technique, following the acquisition of Global Project Services in April.
Founded in 1998, Pipeline Technique, headquartered in Kintore, was later acquired by Bluewater in May 2019 and now has a strong presence in Houston.
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