ShawCor Ltd. Acquires Desert NDT
TORONTO— ShawCor Ltd. announced that it has completed the acquisition of all of the outstanding shares of Desert NDT ("Desert") for a total consideration of approximately $260 million, subject to adjustment for changes in working capital.
Desert is a Houston-based provider of non-destructive testing services for new oil and gas gathering pipelines and infrastructure integrity management services. Desert operates through 18 branches located in major U.S. oil and gas basins.
Steve Orr, President and CEO of ShawCor, stated, "Desert will operate as ShawCor's ninth division and we look forward to working with the Desert team as we advance our integrity management strategy of providing management and data centric solutions for our customer's production, processing and pipeline assets."
ShawCor is a global energy services company specializing in products and services for the pipeline and pipe services and the petrochemical and industrial segments of the oil and gas industry. For more information, visit www.sharcor.com.