PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Learn while you earn.

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.

Desco Mfg. Co., Inc.
DUST-FREE SOLUTIONS For Lead Abatement

Tools operate at levels well below OSHA limits for hazardous material removal; meet SP11 specifications when required and low vibration tools increase productivity.


Industrial Vacuum Equipment Corp.
Hurricane Vacuums
& Dust Collectors

Vacuum and dust collector hose, filters and related accessories.
IndustrialVacuum.com


Novetas Solutions
Abrasive Blasting near or over water?

100% Recycled Glass! NO Arsenic, Beryllium or other Toxic Metals! Great White Metal Finish and Safer than Slags! Call us at 866-775-6226


Specialty Products, Inc. (SPI)
Polyurea & Polyurethane Spray Foam Training

SPI is committed to industry leading technical training for polyurea & polyurethane spray foam professionals. Attendees receive hands-on, in-depth training for using and troubleshooting plural-component equipment, spray guns, machine hoses & parts.


Park Derochie Coatings Ltd.
www.ParkDerochie.com

Coatings          Fireproofing
Sandblasting     Scaffolding
Metalizing           Insulation

• Shop & Field Services
• SSPC Certified
• NACE Inspectors on staff
• New Construction &
  Maintenance Programs


Novatek Corporation
Novatek Corporation, Dustless Coatings Removal

Strip, clean and profile all dust free! Comply with new lead standards. Contact today: (866) 563-7800


Blastman Robotics Ltd.
Robotic Blast Cleaning

Replace manual blasting with new Blastman robot models. Contact us to boost your production and save costs!


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

Don't waste money 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


NACE International, The Corrosion Society
Get the Basics Anytime, Anywhere!

Take this online training to eliminate juggling your work schedule with continuous education. Learn corrosion causes, types, and how it can be controlled.


Detail Masters
Overspray Removal

We offer professional, turnkey service and unparalleled quality!
Our process can save hundreds— even thousands of dollars. It's fast, environmentally safe and 100% guaranteed.

 
 
 
Technology Publishing

The Technology Publishing Network

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

 
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 2000-2016, 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