Seller

ACQUIRED BY

buyer

Rickitt Mitchell has advised Pipeline Technique Ltd on its acquisition of Stanley Oil & Gas, a division of Stanley Black & Decker

- Growth deal

- June 2022

- Value: Undisclosed

Pipeline Technique is a leading provider of high-end pipeline welding, field joint coating and spoolbase services to the energy industry

Stanley Oil & Gas is made up of three companies: CRC-Evans, Pipeline Induction Heat, and Stanley Inspection

Upon completion of this acquisition PTL will become a global leader with revenues in excess of $200 million.

Client Background

Pipeline Technique Limited (PTL), backed by specialist energy Private Equity firm Bluewater, are a market leader in the onshore and offshore infrastructure welding, coating and fabrication services sector and enjoy a unique status in their specialist market; their combination of operational, engineering, project management and hands-on experience is unrivalled and they are proud of their reputation for excellence in fabrication and construction, regardless of the location or nature of the project.

PTL will acquire the oil and gas division of Stanley Black & Decker, (NYSE: SWK) which is comprised of: CRC-Evans, Pipeline Induction Heat (PIH), and Stanley Inspection (including MicroAlloying, part of Stanley Inspection).

Rickitt Mitchell has advised Pipeline Technique Ltd on its acquisition of Stanley Oil & Gas, a division of Stanley Black & Decker
Rickitt Mitchell has advised Pipeline Technique Ltd on its acquisition of Stanley Oil & Gas, a division of Stanley Black & Decker

About the Deal

This is PTL's second acquisition of the year and the deal immediately transforms PTL into a powerhouse in the welding, coating, and fabrication services sector, which are required in every aspect of the energy value chain.  The acquisition also means that PTL can now service every part of the energy mix, including oil and gas, renewables (including wind and hydrogen), and carbon capture, as well as the wider infrastructure sector.

Through the acquisition, PTL will begin deploying the newly acquired industry-leading technologies to a much wider range of sectors and applications than ever before.

This acquisition increases PTL's revenues threefold and grows its headcount from around 350 people to more than 1,000.

Stanley Oil & Gas delivered revenues of approximately $140m in 2021. Upon completion, the Pipeline Technique Group should have revenues in excess of $200m.

 

“This deal is a major step forward on our journey of diversification and global growth, and the timing of this acquisition could not be better as the sector undergoes significant change. We will invest in the businesses to deliver rapid growth and help realise our enormous potential.”

- Frederic Castrec | CEO | PTL
Seller

INVESTMENT FROM

buyer

Growth deal

Value: Undisclosed

Nov. 2, 2022

Seller

investment from

buyer

Growth deal

Value: Undisclosed

Oct. 31, 2022

Seller

ACQUIRED BY

buyer

Growth deal

Value: Undisclosed

June 30, 2022

Seller

Acquired by

buyer

Exit deal

Value: Undisclosed

Oct. 31, 2021