CRC-Evans, a supplier of specialized tools, equipment and services for the construction of oil and natural gas transmission pipelines, will be integrated into SWK’s Infrastructure Solutions business group.
Kenneth Hersh, CEO and managing partner of Natural Gas Partners, said: “NGP and CRC-Evans have enjoyed a close relationship over the past seven years. We were delighted to be the equity sponsor of a $40m management-led buyout of the company in 2003 and since that time, management of CRC-Evans has done a masterful job of growing the business and building an unparalleled position in the global pipeline construction industry.”
Timothy Carey, CEO of CRC-Evans, said: “NGP has been a valued partner, investor and board member for a long time, and their transaction team contributed greatly to the successful closing of our sale. Now we look forward to a new chapter in the CRC-Evans story in concert with Stanley Black & Decker.”
