Significant NDT Acquisition Announced

Eddyfi/NDT has announced the acquisition of NDT Global. Headquartered in Dublin, Ireland, and with main operations in Stutensee, Germany, NDT Global is a premium ultrasonic pipeline inline inspection (“ILI”) and data analysis supplier for onshore and offshore pipelines worldwide. It delivers a full range of services including geometry and deformation inspection, metal loss and crack inspection, defect assessment and fitness for purpose investigations around the world.

The combination of Eddyfi Technologies and NDT Global is an innovative and private Test & Measurement (“T&M”) technology group focused on Non-Destructive Testing (“NDT”). Eddyfi/NDT will now have 1,000+ employees working in 20 global offices and serving customers in 110 countries. It is composed of high-end technology business units operating in two different segments: NDT Equipment and Application-Specific Integrated Inspections. The global headquarters are located in the advanced NDT hub of Québec city.

Martin Theriault, CEO of Eddyfi/NDT, says: “We have spent the past 10 years developing, acquiring and perfecting the most advanced NDT modalities in the world. 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. However, selling inspection instrumentation & technology alone in certain very niche and specialized sub-verticals, such as ILI inspection, simply does not work. 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.”

This merger successfully 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 in non-destructive testing techniques and technology of Eddyfi Technologies, NDT Global will deliver increased accuracy and enhanced information to assure the safe operation of pipelines.

Richard Matthews, President and CEO of NDT Global, comments, “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.”

Furthermore, to complete this acquisition, Eddyfi/NDT confirmed a new round of equity financing with Montreal-based Novacap, making its first investment in the company with CA$ 163 million, and CDPQ, making an additional investment of CA$ 107 million. Over CA$ 600 million was raised to complete the NDT Global acquisition as well as pursue other strategic opportunities.

Eddyfi/NDT is a fast-growing, innovative private Test & Measurement (T&M) technology group focused on Non-Destructive Testing (NDT). Through its two divisions, Advanced Non-Destructive Testing (NDT) Equipment and Advanced Application-Specific Integrated Inspection, it caters to asset owners, large engineering firms, and service companies globally in markets such as Aerospace, Energy, Mining, Power Generation, or Transportation. The company employs over 1,000 people throughout 20 offices worldwide, and serves clients in more than 110 countries.

For more information: www.eddyfi-ndt.com

NDT Global is a leading supplier of ultrasonic pipeline inspection and data analysis. Its state-of-the-art inspection fleet provides the entire inline inspection service (ILI) spectrum for onshore and offshore pipelines worldwide. NDT Global’s full range of services includes geometry and deformation inspection, metal loss and crack inspection, defect assessment and fitness for purpose investigations. The company has offices in Australia, Canada, Germany, Ireland, Mexico, Spain, UAE, UK and USA.

For more information: www.ndt-global.com

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