PaintSquare.com


The First Word in Protective & Marine Coatings

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

Bridge Coating Systems: Selecting and Sourcing

Paint and Coatings Industry News

Main News Page


3 Acquisitions Expand Insituform

Wednesday, July 6, 2011

More items for Coating Application

Comment | More

Insituform Technologies Inc., global provider of pipeline protection services and materials, has announced acquisition deals totaling more than $28.6 million for complementary companies in the United States, United Kingdom and United Arab Emirates.

On June 30, the Chesterfield, MO-based company completed the purchase of CRTS Inc., based in Tulsa, OK, for about $24 million.

 CRTS

 CRTS

CRTS specializes in pipeline internal field joint coatings.

CRTS, also known as Coatings Robotics Technical Services, specializes in pipeline internal field joint coatings. The company also provides external coatings and inspection services as well as rebar plant construction.

CRTS had revenue of about $13.3 million in 2010. In addition to its North American offices, CRTS has offices in the Middle East and Brazil.

CRTS shareholders also can earn up to another $15 million if certain performance targets are achieved over a three-year period ending Dec. 31, 2013.

Hockway Acquisitions

Insituform also said it had reached agreement to acquire Hockway Ltd. and Hockway Middle East FZC, based in the United Kingdom and UAE, respectively, for a total of $4.6 million. That deal is expected to close about July 31, pending regulatory approvals in the UAE.

Hockway shareholders could earn up to $1.5 million more if certain performance targets are reached over the three years ending Dec. 31, 2013.

Onshore, Offshore Services

Hockway began in the U.K. in 1975 to meet the demands of the oil and gas industry for cathodic protection onshore and offshore. Today, the company offers a complete cathodic protection package from initial investigative survey through engineering design, manufacture of equipment, site installation and commissioning of systems with subsequent planned operational inspection and maintenance.

 Hockway

 Hockway

Hockway provides cathodic protection and corrosion control services, engineering and materials to the UK and Middle East oil and gas markets.

Hockway, which began operations in Dubai, UAE, in 2009, had revenue of about $10 million in 2010, and primarily serves the UK and Middle East oil and gas markets. The company is a major supplier of both impressed current and sacrificial CP systems to North Sea production platforms.

Insituform said it would fund its purchase of CRTS in part by borrowing against the company’s line of credit and would fund the Hockway acquisition out of Insituform’s cash balances.

   

Tagged categories: Acquisitions; Cathodic protection; Corrosion protection; Insituform; Mergers; Pipeline; Pipelines; Protective coatings

Comment Join the Conversation:

Sign in to our community to add your comments.

Wasser High-Tech Coatings Inc.
Wasser Coatings Protect

some of the most important bridges in the country; learn about our NEPCOAT-approved system and our entire range of MCU & Polyurea coatings. 1-800-627-2968 www.wassercoatings.com


International Paint LLC

International Paint Engineered Coatings

Learn about our solutions for:
  • Structural Steel
  • Piping & Equipment
  • Storage Tanks
  • Pressure Vessels
  • Secondary Containment


    Keizer Technologies, Inc.
    Fast • Safe • Clean • Silent

    The innovative RPR Induction Disbonder, the world’s fastest, safest, cleanest and very cost effective method for removing paint and coatings from steel surfaces.


    ITW Binks
    Built for Tough Jobs

    From Epoxies to Urethanes to other high solid coatings, the new Binks Airless 75 delivers a great finish using an ergonomic design. Visit binks.com for more information.


    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


    Hempel (USA) Inc.
    HEMPEL PROTECTIVE COATINGS

    Efficient systems and high quality products to reduce your maintenance costs. Visit Hempel Protective for more information.


    Midsun Specialty Products
    Stopaq Corrosion Protection Services by MSP

    Stopaq coatings are impenetrable to water, oxygen and bacteria. Save labor costs with simple surface prep and a 30 year guarantee.
    Visit: midsunsp.com/stopaq or Call 888-866-8273

  •  
     
     
    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