ShawCor Ltd. acquires Desert NDT (Scandinavian Oil-Gas Magazine)

ShawCor Ltd. acquires Desert NDT

Published Jul 10, 2014

ShawCor Ltd. has completed the acquisition of all of the outstanding shares of Desert NDT LLC (Desert), first announced on May 8, 2014, for a total consideration of approximately US$260 million, subject to adjustment for changes in working capital.

The acquisition was funded with cash and through available revolving credit facilities. Post-closing, ShawCor may consider raising equity to repay a portion of its outstanding revolving debt. The transaction is expected to be accretive to ShawCor's earnings per share within the next 12 months.

Tags: ShawCor Ltd.

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