Stork Industry Services intends to acquire a 70% interest in the MASA group of companies. A Share Purchase Agreement for this acquisition has recently been signed. MASA (Mecánicos Asociados S.A.) is the main provider of operating, maintenance (O&M) and asset management in Colombia, delivering integrated solutions for gas to power conversion facilities. MASA employs 1,600 people and has an annual turnover is USD 36 million. The acquisition will have a positive impact on Stork’s earnings per share directly.
The planned acquisition fits in the strategy of Stork Industry Services to grow internationally and in specific competences. Stork already has presence in the Carribean region and this acquisition will open further opportunities for expansion in the Latin American region.