AMEC Acquires Qedi Group In US$53.1MM Deal

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
53MM
Description

Acquired completions and commissioning services co.

AMEC Plc, London, (London: AMEC) has acquired The Qedi Group, a privately held Aberdeen-based completions and commissioning services firm, for £33 million (US$53.1 million) in cash.

The purchase price included a payment of £29 million (US$46.7 million) at closing, with the balance to be paid over the next two years.

AMEC chief operation officer Neil Bruce says, "Our capability, geographic coverage and customer relationships, combined with [Qedi]'s specialist technology and expertise, provide us with the ability to deliver integrity across the whole life-cycle of a project for our customers."

Qedi, which has more than 350 employees, developed project management software called Go Technology®.