PTL completes transformational triple acquisition from Stanley Black & Decker
Pipeline Technique (PTL), a market leader in the onshore and offshore infrastructure welding, coating, and technological engineering sector, has today completed its transformational acquisition of a trio of industry-leading energy infrastructure businesses from Stanley Black & Decker. This marks the second acquisition of 2022 for PTL following the acquisition of Global Project Services in April.
PTL has acquired a group of three companies from Stanley Black & Decker, CRC-Evans, Pipeline Induction Heat (PIH), and Stanley Inspection including MicroAlloying. This acquisition creates a global leader in welding, coating, and technical engineering, significantly increasing the company’s headcount and immediately delivering a threefold increase in revenue for PTL, which is now expected to exceed $200 million.
PTL is now in a position to expand its essential welding, coating related projects and contracts across the world. Every aspect of the energy mix – including traditional gases, hydrogen, ammonia, and carbon capture – requires welding and coating to deliver safe, reliable, secure energy to meet the world’s growing energy demands.
PTL now has a broad range of industry-leading, cutting-edge technology including CRC-Evans’ world-renowned series of automatic and automated M-500 and P-625 welding machines, and PIH’s injection moulded polypropylene (IMPP) for thermally insulating welded joints using a low overall heat transfer coefficient that can perform at high operating temperatures. Stanley Inspection adds the latest technology to deliver complete non-destructive testing (NDT) solutions.
Frederic Castrec, CEO of PTL, said: “PTL delivers the essential building blocks of the energy supply chain. Low-carbon solutions like wind, hydrogen, and ammonia, at the forefront of new energy investment, still need the essential welding and technical engineering services we have provided for over 20 years.
“Investment in gas and renewables continues to grow to drive the energy transition and this acquisition places us at the forefront of a welding industry that is integral to meeting the world’s growing energy demands. As a result we will now be looking to take on essential work in more regions than ever before.
“We look forward to welcoming these three exceptional teams into our business and cannot wait to seize the opportunities this next chapter brings.”
Martin Somerville, Managing Director of Bluewater, which owns the business, said “This acquisition will help PTL continue its exceptional growth record. Frederic and his leadership team are better placed than ever to take on this critical work across the globe.
“In the last two months alone since the announcement of the acquisition, the company has signed significant new contracts to deliver services in new geographies. We strongly believe that these acquisitions have played a big part in winning these new projects.