As an established name in the Australian pressure testing and calibration industry, APTS provides non-destructive testing (NDT), calibration, pre-commissioning, shutdown and maintenance services to the oil and gas, power and water sectors.
“We are excited about the synergies and the new business growth opportunities that APTS will ultimately deliver to Valmec,”? said Valmec Managing Director Steve Dropulich.
“The acquisition of the APTS business and assets, together with the engagement of over 50 new experienced and industry recognised staff, further expands Valmec’s capabilities in the energy and infrastructure sector.”?
Under the Business Sales Agreement (BSA), Valmec will acquire the total plant and equipment of the APTS business, approximately $5 million of long-term service contracts with Tier 1 oil and gas clients, and engage an experienced team of 55 management and staff.
The acquired assets include NATA accredited and specialised calibration facilities, NDT X-ray equipment, an specialised and fully accredited radiation equipment storage facilities.
Pursuant to the confidentiality of the BSA, Valmec revealed the total consideration is 100 per cent cash payable on completion of the deal, which is expected in late January.