PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Download our FREE eBook on New Technology Coatings for Corrosion Control

Paint and Coatings Industry News

Main News Page


Pipeline Corrosion Firm Sold for $116M

Thursday, June 5, 2014

More items for Program/Project Management

More items from Europe; North America

Comment | More

Global HSE concern Halma plc has acquired California-based Rohrback Cosasco Systems (RCS), the leading U.S. corrosion monitoring firm, Halma has announced.

The sale was completed May 30, the company said.

RCS is a privately held world leader in the design, manufacture and sales of pipeline corrosion monitoring products and systems for the oil, gas, petrochemical, chemical, utilities and other sectors.

RCS
Rohrback Cosasco Systems

Rohrback Cosasco Systems, which serves the oil and gas, petrochemical, chemical and utilities sectors, was sold May 30 for $116 million in cash, according to purchaser Halma plc.

Based in Santa Fe Springs, CA, RCS also has offices in Texas, as well as in Canada, UK, UAE, Singapore, China and Australia.

By the Numbers

Halma paid a $108 million (£64.7 million) cash consideration to RCS’s private shareholders for the share capital, plus $8.0 million (£4.8 million) for cash retained in the business.

The acquisition is "expected to be immediately earnings enhancing" and was funded from Halma’s existing cash and debt facilities, Halma said.

RCS reported $44.4 million in revenues in 2013, according to Halma. The current RCS management team will remain in place and continue to operate the business as part of the Halma Process Safety sector.

About the Companies

RCS was established in 1950 as the Corona Oil Sales and Service Company, according to the company's website.

Halma
Halma plc

UK-based Halma plc is a billion-dollar global provider of health, safety and environmental products and services. RCS will join its Process Safety division.

In 1974, Grant Oil Tool Company becomes part of MASCO Corporation and established COSASCO products as an international provider of corrosion monitoring technology.

In 1984, Rohrback Instruments and COSASCO merged to form Rohrback Cosasco Systems.

Ten years later, Masco Corporation retired from the energy industry and sold RCS to Corrpro. In 2003, RCS became an independent company  "committed to developing new products, markets and technologies for the corrosion-related industry."

RCS issued no statement on the Halma acquisition.

For Halma, the acquisition "expands our portfolio of critical safety products which are sold into the energy and utility markets to protect life and operational assets," said chief executive Andrew Williams.

Rohrback Cosasco HQ
Rohrback Cosasco Systems

RCS was founded in 1950 as the Corona Oil Sales and Service Company. After a series of owners, the company became an independent supplier of products and technologies for the corrosion industry in 2003.

Based near London, the Halma group of companies dates to 1894 and reported about $1 billion (USD) in revenues in 2012-13.

Deere said the RCS would provide "exciting opportunities" for Halma's continued growth.
 

   

Tagged categories: Acquisitions; Business matters; Corrosion protection; Health and safety; Maintenance programs; Oil and Gas; Petrochemical Plants; Pipelines; Utilities

Comment Join the Conversation:

Sign in to our community to add your comments.

SAFE Systems, Inc.
Custom blast rooms
by SAFE Systems

Don't waste time and money "making do" with a "standard" design. Let us work with you to design and build the
system that best fits
your requirements.
Call 1-800-634-7278


Minerals Research & Recovery

HIGH PERFORMANCE ABRASIVES


“Made in the USA!”

Why recycle waste from other countries? Go FASTER, CLEANER, at 1/3 THE COST with MR&R “All-American” Sharpshot®HP!!

WATCH THE VIDEO


LS Industries
LS Blasters: Optimum Steel Cleaning Efficiency

Simplify surface prep with the precise shot control of LS Blasters. Our blast technology delivers optimum coverage and finish. 800-533-8008


Barton International
Garnet Abrasives result in Shorter Blast Times

Get your customers back on line fast with Barton engineered garnet abrasives. 2 to 4 times harder and up to 2 times heavier than ordinary abrasives. Call 800-741-7756 or Email info@barton.com


Novatek Corporation
Dustless Coatings Removal

Strip it, clean it, and profile it,
all dust free! High production
rates and Blast like finishes.
Comply with new lead
standards.


CS Unitec
Peening Preparation Tools

CS Unitec’s hand-held scarifiers are an ideal alternative to small-area shot blasting for cleaning and preparing concrete & metal surfaces. info@csunitec.com


Blastox/The TDJ Group, Inc.
Blastox - One Step
Lead Abatement

Don't waste $$ on added labor steps with other methods. Don't mix, meter or apply at the job-site. Avoid strict hazardous waste rules.
Let your painters paint!

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com