PaintSquare.com
Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram
Search the site

 

Download our Free Top Contractors e-Resource Guide.

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.

Advertisements
 
International Bridge Conference
 
2017 International Bridge Conference
 
June 4-8, 2017, National Harbor, Maryland
 

 
Industrial Vacuum Equipment Corp.
 
Hurricane Vacuums
& Dust Collectors
 
Vacuum and dust collector hose, filters and related accessories.
IndustrialVacuum.com
 

 
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.
 

 
Blastox/The TDJ Group, Inc.
 
Blastox® - One Step Lead Abatement
 
Sandblast additive delivered to jobsite pre-blended to eliminate hazardous abrasive wastes. Why mix, meter or apply at the job-site? Blast with ease and
Let your painters paint!
1(800)-252-7869
 

 
W Abrasives
 
Steel Abrasives from
W Abrasives
 
As the global leader in steel abrasives, W Abrasives material is the efficient and eco-friendly solution blasting with you to reach the perfect profile.
 

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

 
PPG Protective and Marine Coatings Group
 
We Protect and Beautify the World
 
PPG is widely recognized as a world leader in protective and marine coatings, developing innovative, cutting-edge products and services.
 

 
Jotun Paints Inc.
 
Jotachar JF750 - The Time Saving Solution
 
The only mesh free solution for jet fire scenarios. Jotachar saves installation time and material costs - the next generation of epoxy passive fire protection.
 

 
Absolute Equipment/Grand Rental Station
 
TIER 4 EQUIPMENT
 
We have Tier 4 Equipment including Air Compressors & Generators for Sale & Rent! Your job may now require Tier-4. www.absoluteequip.com or Call 412-931-6655.
 

 
BASF
 
New resins from BASF will have metals loving water!
 
Excellent corrosion resistance, low VOC, high gloss, thin films www.basf.us/industrialcoatings dpsolutions@basf.com 800-231-7868
 

 
 
 

Technology Publishing Co., 2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@paintsquare.com


The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings 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