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

 

Download our free Bridge Coating Systems eResource Book

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.

Commercial Sand Blasting & Painting Ltd.
Reliable Service & Superior Workmanship

We’re ready to meet any of your protective coating and lining needs. We can work on your site or in our facilities, with large shops (60,000 sq ft), 40 acres of yard space, and cranes and forklifts on site.


SSPC: The Society for Protective Coatings
http://www.sspc.org/

Join SSPC and Enhance
Your Career !


Wasser High-Tech Coatings Inc.
Wasser Coatings Protect

Wasser Coatings offer a complete range of Moisture Cure Urethane (NEPCOAT approved) systems in addition to Polyurea membranes and linings(NSF).
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


    Binks/DeVilbiss
    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.


    Thermion Inc
    Buy Back Program

    We are offering $5,000
    credit for your old Model
    This drive system is
    being discontinued by
    the manufacturer.
    More information at
    thermioninc.com
    877.884.3428


    Midsun Specialty Products
    Stopaq 30+ Year Coatings

    Use Stopaq corrosion prevention coatings on pipelines, field joints, tank chimes, structural steel and more. Learn more at www.midsunsp.com/stopaq


    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!


    WINOA Group
    W Abrasives - Surf Prep Pack

    Experts in surface preparation are not working only on greens. To discover the SURF PREP PACK dedicated to experts, come to visit us during the GIFA (Hall15 - D14).


    SAFE Systems, Inc.
    Portable Blast &
    Recovery Equipment

    Trailer or skid mounted blast and recovery equipment. Systems designed for maximum versatility, environmental compliance
    and overall cost savings.
    Call 1-800-634-7278

  •  
     
     
    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 2000-2015, 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