Valmec to Acquire APTS in Australia
Valmec, a leading provider of services to the oil and gas industry in Australia, entered into a contract to purchase the business and assets of APTS Pty Ltd., a specialist pipeline testing company.
APTS provides non-destructive testing (NDT), calibration, pre-commissioning, shutdown and maintenance services to the oil and gas, power and water industries.
"We are excited about the synergies and the new business growth opportunities that APTS will ultimately deliver to Valmec," said Valmec Managing Director Steve Dropulich.
"The acquisition of the APTS business and assets, together with the engagement of over 50 new experienced and industry recognised staff, further expands Valmec’s capabilities in the energy and infrastructure sector."
According to the contract, Valmec will eventually own the total plant and equipment of the APTS business worth about $5 million in long-term service contracts with Tier 1 oil and gas clients, and integrate 55 staff into their operation
The acquired assets include NATA accredited and specialised calibration facilities, NDT X-ray equipment, an specialised and fully accredited radiation equipment storage facilities.
Completion of the all cash deal is expected in January.