Pipeline Technique (PTL), a specialist in the onshore and offshore infrastructure welding, coating, and technological engineering sector, backed by private equity firm Bluewater, has acquired a trio of energy infrastructure businesses from Stanley Black & Decker.
This marks the second acquisition of 2022 for PTL – in April, the company acquired Global Project Services.
PTL, which is backed by specialist energy private equity firm Bluewater, has acquired a group of three companies from Stanley Black & Decker: CRC-Evans, Pipeline Induction Heat (PIH), and Stanley Inspection (including MicroAlloying, part of Stanley Inspection).
The acquisition creates a global specialist in welding, coating, and technical engineering. It immediately delivers a threefold increase in revenue for PTL, which is now expected to exceed $200 million. The deal also results in more than doubling of headcount, rising from around 350 people to over 1,000.
