Pipeline Technique Blen CRC-Evans, PIH and Stanley Inspection

Pipeline Technique (PTL) has completed the acquisition of a trio of industry-leading energy infrastructure businesses from Stanley Black & Decker. First announced in June, the transaction includes CRC-Evans, Pipeline Induction Heat (PIH) and Stanley Inspection (including MicroAlloying, part of Stanley Inspection) and is expected to provide proceeds of more than $200 million to PTL.

Pipeline Technique has acquired CRC-Evans, as well as PIH and Stanley Inspection, from Stanley Black & Decker.

Backed by specialist energy private equity firm Bluewater, PTL is a market leader in the welding, cladding and technology engineering sector of onshore and offshore infrastructure. This marks the second acquisition of 2022 for the company, which acquired Global Project Services in April.

Established in 1998, PTL provides welding, field coating and double/quad joint, and roll base technical engineering services to the international energy and low carbon industries. Bluewater acquired the company in May 2019 and has since supported the company’s growth plan. PTL is headquartered in Kintore, Scotland (Aberdeenshire) and has a strong presence in Houston.

In addition to providing a three-fold increase in revenue for PTL, the acquisition of CRC-Evans, PIH and Stanley Inspection also results in a more than doubling of staff, growing from approximately 350 people to more than 1,000.

PTL will now use the increased headcount to its advantage and take on more substantial welding, cladding and contracting projects and contracts worldwide. Every aspect of the energy mix – including traditional gases, hydrogen, ammonia and carbon capture – requires welding and coating to deliver safe, reliable and secure energy to meet the world’s growing energy demands.

“PTL provides the essential building blocks of the energy supply chain. However, low-carbon energy such as wind, hydrogen and ammonia, while at the forefront of new energy investment, still needs the essential welding and technical engineering services we have provided for more than 20 years,” said CEO Frederic Castrec. “As investments in gas and renewables continue to grow to drive the energy transition, this acquisition puts us at the forefront of a welding industry that is integral to meeting our growing energy demands. As a result, PTL will now seek to undertake essential work in more regions than ever before.”

PTL will deploy the most advanced, industry-leading technology now available following the acquisitions. This includes:

  • CRC Evans technology includes its world-renowned series of automatic and automated welding machines, such as the M-500 and P-625.
  • PIH technology incorporates injection molded polypropylene (IMPP) for applying thermal insulation to the welded joint area. IMPP combines a low overall heat transfer coefficient with the ability to perform at high operating temperatures.
  • Stanley Inspection uses the latest technology to provide complete non-destructive testing (NDT) solutions.

“This acquisition will help PTL continue its outstanding growth record. Frederic and his management team are more determined than ever to take on this critical work across the globe,” said Martin Somerville, managing director of Bluewater, which owns PTL. “In just the last two months since the announcement of acquisition, the company has already signed significant new contracts to provide services in new geographies. We strongly believe that these acquisitions have played a major role in winning these new projects.”

Tags: CRC-Evans, mergers and acquisitions, PIH, Pipeline Engineering (PTL), Stanley Inspection, Stanley Oil and Gas

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