NDT Global is an ultrasonic pipeline inline inspection (ILI) and data analysis supplier for onshore and offshore pipelines
Eddyfi/NDT completes the acquisition of NDT Global (Credit: CNW Group/Eddyfi/NDT)
Eddyfi/NDT, along with Novacap and Caisse de dépôt et placement du Québec (CDPQ), has completed the acquisition of NDT Global.
NDT Global is an ultrasonic pipeline inline inspection (ILI) and data analysis supplier for onshore and offshore pipelines.
With headquarters in Dublin, Ireland, and main operations in Stutensee, Germany, the firm provides geometry and deformation inspection, metal loss and crack inspection, defect assessment as well as fitness for purpose investigations worldwide.
NDT Global president and CEO Richard Matthews said: “Joining with Eddyfi/NDT offers a tremendous opportunity to leverage our respective technologies to develop even better solutions.
“At NDT Global we want to continue our trend of being a technology disruptor whilst delivering new and never seen before solutions to our customers through out of the box thinking, creativity and collaboration – we believe Eddyfi/NDT will help us materialize this vision.”
Eddyfi/NDT now has more than 1,000 employees
With the completion of the acquisition, Eddyfi/NDT now has more than 1,000 working in 20 global offices and serving customers in 110 countries.
The combined entity will have its global headquarters in the advanced NDT hub of Québec city.
It consists of high-end technology business units operating in two different segments that include NDT Equipment and Application-Specific Integrated Inspections.
To complete the acquisition of NDT Global and pursue other strategic opportunities, Eddyfi/NDT has raised CA$600m ($451.5m).
In a new round of equity financing with Montreal-based Novacap, Eddyfi/NDT has raised CAD163m ($122.6m). CDPQ, which made its initial investment in Eddyfi in March 2017, has invested an additional amount of CAD107m ($80.5m).
CDPQ president and chief executive officer Charles Émond said: “Québec SME expansion and globalization is a key aspect of our strategy, and our support for Eddyfi over the years reflects that.
“Since our first investment, the company has experienced tremendous and sustained growth, becoming one of the largest private companies in the Greater Québec City area today.”
In February last year, Eddyfi Technologies acquired Inuktun, a developer and manufacturer of remotely operated crawlers and camera systems.