Aberdeenshire's Pipeline Technique seals 'transformational' acquisition involving hundreds of workers

Aberdeenshire-based Pipeline Technique (PTL) has completed the “transformational” acquisition of a trio of energy infrastructure businesses from Stanley Black & Decker.

PTL said the deal creates a 'global leader' in welding, coating and technical engineering.

The deal creates a “global leader” in welding, coating and technical engineering. It immediately delivers a threefold increase in revenue for PTL, which is now expected to exceed $200 million (£170m). The deal also results in the group’s headcount rising from around 350 people to more than 1,000.

PTL is headquartered in Kintore and has a strong presence in Houston in the US.

The group, which is backed by specialist energy private equity firm Bluewater, has acquired the three companies from Stanley Black & Decker - CRC-Evans, Pipeline Induction Heat (PIH), and Stanley Inspection (including MicroAlloying, part of Stanley Inspection).

Frederic Castrec, chief executive of PTL, said: “PTL delivers the essential building blocks of the energy supply chain. However, low-carbon energy like wind, hydrogen, and ammonia, while at the forefront of new energy investment, still needs the essential welding and technical engineering services we have provided for over 20 years.

“As investment in gas and renewables continues to swell to drive the energy transition, this acquisition places us at the forefront of a welding industry that is integral to meeting our growing energy demands. As a result, PTL will now be looking to take on essential work in more regions than ever before.”

Martin Somerville, managing director of Bluewater, added: “This acquisition will help PTL continue its exceptional growth record. Frederic and his leadership team are better placed than ever to take on this critical work across the globe.”