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Slide #2. ShawCor Ltd. — Desert NDT LLC
ShawCor Ltd. (TSE:SCL.CA)
Desert NDT LLC
SHAWCOR LTD. (TSX: SCL) (ShawCor) today announced that it has entered into a definitive purchase agreement to acquire all of the outstanding shares of Desert NDT LLC ("Desert") for a total consideration of approximately US$260 million. Desert is a Houston-based provider of non-destructive testing ("NDT") services for new oil and gas gathering pipelines and infrastructure integrity management services. Desert operates through 18 branches located in major U.S. oil and gas basins and its trailing twelve month EBITDA is in excess of US$33 million with operating income of approximately US$22 million.
ShawCor is a global energy services company focusing on technology based products and services for the pipeline and pipe services and the petrochemical and industrial markets. Co. provides a range of products and services, which include pipe coating services, flexible composite pipe, onshore and offshore pipeline corrosion and thermal protection, ultrasonic and radiographic inspection services, tubular management services, heat-shrinkable polymer tubing, and control, and instrumentation wire and cable. As at Dec 31 2015, Co. operated its seven divisions through two reportable operating segments: Pipeline and Pipe Services; and Petrochemical and Industrial.
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