CRC Evans inspection business sold to strategic buyer
CRC Evans is pleased to announce that it has signed an agreement for the Sale of its Quantive Group inspection business, for an undisclosed sum, with completion expected to formally take place in early 2024.
Proceeds from the divestment significantly enhance CRC Evans’ capital position, which will support the company’s growth and strengthen focus on its core welding and coating service delivery. The move is aligned with the Group’s overall strategy and reinforces CRC Evans’ commitment to becoming the preferred partner for the evolving global energy and wider infrastructure sectors.
For the buyer, the acquisition of Quantive Group helps to consolidate its standing in the inspection market. Both companies are market leaders with complementary core competencies and customer-centric approach with a strong foundation in operational excellence and safety, which will help to ensure a seamless transition and uninterrupted service and support for clients.
The Transaction comprises the Sale by CRC Evans of its shareholdings in the Quantive Group LLC, together with associated subsidiaries.
Published: 11-01-2024
