Eddyfi / NDT swallows Calgary company for nearly $ 100 million

Eddyfi / NDT swallows Calgary company for nearly $ 100 million
Eddyfi / NDT swallows Calgary company for nearly $ 100 million

Eddyfi / NDT grabs a Calgary company specializing in risk management software for the energy sector. The amount of the transaction oscillates between “75 and 100 million dollars”.

The management of the Quebec company announced in a press release on Wednesday the acquisition of Dynamic Risk, which has 115 employees. This company also has an office in Houston, United States.

Through this transaction, Eddyfi / NDT intends to develop a new business unit and extend its offer to new markets in energy transition sectors such as natural gas and hydrogen.

Dynamic Risk, which in 2020 had undertaken a strategic review process regarding its future, is expected to retain its identity and no layoffs are expected.

“The addition of Dynamic Risk will allow us to grow in the value chain and, in terms of online pipeline inspection, bridge the gap between data production and guidance on integrity management.” », Indicated the president of Eddyfi / NDT, Martin Thériault.

This transaction was partially funded by a banking syndicate led by the National Bank, says management. Investissement Québec also participated in the financial package.

$ 600 million

In 2020, the company Eddyfi / NDT, headquartered in Quebec City, became the fourth among the most important players in the world in the pipeline inspection industry, thanks to the acquisition, for $ 500 million, NDT Global, based in Ireland.

This transaction was part of a $ 600 million round of financing supported by the private investment fund Novacap ($ 163 million) and the Caisse de dépôt et placement du Québec ($ 107 million). They are now shareholders in the company with 1,200 employees.

Eddyfi / NDT designs inspection equipment and software for non-destructive testing for the petroleum, aerospace, mining, transport, energy and nuclear sectors.

Management has never hidden that it wanted to eventually jump to the stock market in order to support its growth projects. Eddyfi / NDT today has a turnover of over $ 300 million.

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