Pipeline Technique (PTL), a market-leading firm in onshore and offshore infrastructure welding, coating, and inspection technology, on August 23, 2022 finalized its transformational acquisition of triple businesses from Stanley Black & Decker. This is the second acquisition for 2022 after the company acquired Global Project Services in April.
Pipeline Technique, owned by specialist energy private company, Bluewater, has procured the triple firms from Stanley Black & Decker: Pipeline Induction Heat (PIH), CRC-Evans, and Stanley Inspection (including MicroAlloying, part of Stanley Inspection).
The newly acquired businesses bring the latest welding and coating technology to PTL’s global offering. It also forms a global leader in welding, coating, and technological engineering, which instantly delivers an increase in revenue for Pipeline Technique, which is now expected to increase by over $200 million.
The acquisition also increases the company’s headcount from 350 people to more than 1,000. This gives PTL an added advantage and the ability to accept more welding and coating projects worldwide.
“PTL delivers the essential building blocks of the energy supply chain. However, low-carbon energy like 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 over 20 years,” said Fredric Castle, the CEO of PTL.
Most energy mix processes, including traditional gases, ammonia, carbon, and hydrogen capture, require safe and reliable handling to meet the world’s ever-changing energy demands. Pipeline Technique will utilize the state-of-the-art technology it now has as a result of the acquisition, which includes PIH Technology, CRC Evans Technology, and Stanley Inspection.
While PIH Technology uses IMPP (Injection Moulded Polypropylene) to deliver thermal insulation on welded joint surfaces, CRC Evans Technology uses a series of automatic welding machines, such as the P-625 AND M-500. Stanley Inspection uses cutting-edge technology to provide powerful Non-Destructive Testing (NDT) solutions.
“This acquisition will help PTL continue its great growth record. Frederic and his leadership team are better placed to take on this critical work worldwide,” Bluewater MD, Martin Somerville, said in a comment.
Each acquired company brings new cutting-edge, coating, welding, and inspection technology to PTL – which creates a global leader with projected revenues in excess of $200 million.