Pipeline Technique to Acquire Stanley Oil & Gas
(P&GJ) — Pipeline Technique (PTL) has agreed to acquire the oil and gas division of Stanley Black & Decker, a US-based pipeline services and equipment company.
“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,” Frederic Castrec, CEO of PTL, said.
PTL, which is backed by specialist energy private equity firm Bluewater, will acquire the three groups of companies that make up the Oil & Gas division: CRC-Evans, Pipeline Induction Heat (PIH), and Stanley Inspection (including MicroAlloying, part of Stanley Inspection).
In 2021, Stanley Black & Decker’s oil and gas division reported revenues of approximately $140 million.
The deal is expected to create a venture with revenues of more than $200 million. The financial terms of the deal were not disclosed.
The acquisition immediately transforms PTL into a powerhouse in the welding, coating, and fabrication services sector, which are required in every aspect of the energy value chain. The acquisition also means that PTL can now service every part of the energy mix, including oil and gas, renewables (including wind and hydrogen), and carbon capture, as well as the wider infrastructure sector.
Through the acquisition, PTL will begin deploying the newly acquired industry-leading technologies to a much wider range of sectors and applications than ever before.
“Having delivered exceptional growth at PTL in the last couple of years, we are delighted to back Frederic and his team in this transformational acquisition of Stanley Oil & Gas,” Martin Somerville, Managing Director of Bluewater, said. “This represents another substantial corporate carve-out deal for Bluewater, and we are extremely excited by the growth potential for the combined group.”
This acquisition increases PTL’s revenues threefold and grows PTL’s headcount from around 350 people to more than 1,000.
This is the second acquisition in three months for PTL. In April, PTL acquired Global Project Services.
Related News
Related News

- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
Comments