Pipeline Technique, a provider of onshore and offshore infrastructure welding backed by private equity firm Bluewater, has purchased the Oil & Gas division from Stanley Black & Decker, a pipeline services and equipment company.
The deal means PTL can service every part of the energy mix, including oil and gas and renewables.
Frederic Castrec, CEO of PTL, adds, “This deal is a major step forward on our journey of diversification and global growth, and the timing of this acquisition could not be better as the sector undergoes significant change. We will invest in the businesses to deliver rapid growth and help realize our enormous potential.”