Non-destructive testing firm Eddyfi/NDT acquires NDT Global
Company will now have 1,000+ employees working in 20 global offices and serving customers in 110 countries.
QUEBEC — Quebec City-based non-destructive testing firm Eddyfi/NDT, through a strategic partnership with private equity firm Novacap and Caisse de dépôt et placement du Québec (CDPQ), announced the acquisition of NDT Global on Feb. 5.
Headquartered in Dublin, Ireland, and with main operations in Stutensee, Germany, NDT Global is an ultrasonic pipeline inline inspection (ILI) and data analysis supplier for onshore and offshore pipelines worldwide. Services include geometry and deformation inspection, metal loss and crack inspection, defect assessment, and fitness for purpose investigations.
Combind Eddyfi and NDT Global is a test and measurement technology group focused on non-destructive testing (NDT). Eddyfi will now have more than 1,000 employees working in 20 global offices and serving customers in 110 countries. It is composed of technology business units operating in two different segments: NDT equipment and application-specific integrated inspections.
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 $163 million, and CDPQ, making an additional investment of $107 million (its first in the company came in March 2017).
The new equity investment is combined with new debt financing provided by a banking syndicate led by National Bank of Canada and additional debt from Investissement Quebec. Over $600 million was raised to complete the NDT Global acquisition as well as pursue other strategic opportunities.