2010-10-05-2010-10-05-2010-10-05

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
38MM
Description

Acquired remaining 50% WI in Brazil-focused midstream companies that provide anticorrosion and advanced insulation coatings for projects offshore Brazil.

Bredero Shaw, a division of ShawCor Ltd., Toronto, (Toronto: SCL-A) has acquired the remaining 50% interest in Brazil-based Thermotite Brasil Ltda. and BS Servicios de Injeção for US$37.9 million.

ShawCor paid for the assets in two installments, with US$19.4 million at closing and an additional US$18.5 million to be paid in 2013. The company now completely owns both entities.

The entities provide anticorrosion and advanced insulation coatings for offshore applications to the Brazilian midstream industry.

Since 2006, Bredero Shaw has been a partner in this successful joint venture in the offshore thermal insulation market in Brazil. Bredero Shaw provides pipe-coating services to the midstream energy industry.