NDT Global Acquired by Quebec-based Eddyfi Technologies
NDT Global, a leading supplier of ultrasonic inline inspection (ILI) and integrity services, has been acquired by Eddyfi Technologies, a testing and measurement technology company based in Quebec, Canada. The combined companies will be known as Eddyfi/NDT, an innovative and private test and measurement (T&M) technology group focused on non-destructive testing (NDT).
“Joining with Eddyfi Technologies offers tremendous opportunity to leverage our respective knowledge to develop even better solutions,” said Richard Matthews, president and CEO of NDT Global. “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 Technologies will help us materialize this vision.”
This merger joins two leaders in their respective markets: Eddyfi Technologies as a provider of the highest performance NDT inspection technologies and NDT Global as an advanced ultrasonic ILI and integrity services provider. Global pipeline operators have come to rely on NDT Global for the most accurate assessment of the condition of their pipeline assets. Coupled with the additional expertise of non-destructive testing techniques and technology by Eddyfi Technologies, NDT Global will deliver increased accuracy and enhanced information to assure the safe operation of pipelines.
“We have spent the past 10 years developing, acquiring and perfecting the most advanced NDT modalities in the world,” said Martin Theriault, CEO of Eddyfi/NDT. “At every level of technology, pushing the limits of NDT to new heights has allowed us to solve critical problems and deliver superior, information-rich data for the benefits of our clients. But selling inspection instrumentation and technology alone in certain very niche and specialized sub-verticals, such as ILI inspection, simply doesn’t suffice. We are therefore excited to join forces with NDT Global and work with them and their clients to take ILI NDT to the next level.”
Moelis & Company acted as exclusive financial advisor to NDT Global in the transaction. Hogan Lovells acted as lead legal advisor to NDT Global. Financial considerations of the acquisition were not disclosed.Eddyfi Technolgies, Eddyfi/NDT, mergers and acquisitions, NDT Global
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