London-based private equity firm Blue Water Energy announces the acquisition of Pipeline Technique Limited (âPTLâ?), a leading provider of high-end pipeline welding, field joint coating, and spoolbase services to the energy industry, from Heerema Marine Contractors (âHMCâ?) for an undisclosed consideration.
PTL is headquartered in Huntly, UK with additional worksites in the USA, Middle East, Brazil, and South East Asia. Since it was founded in 1998, PTL has built a track record in the delivery of technically challenging solutions for offshore and onshore construction projects, ranging from ultra-deepwater and ultra-heavy wall thickness to fatigue sensitive pipelines.
The company has established relationships with the energy industryâs leading players and construction groups, having performed welding and coating services on major projects such as Appomattox (Gulf of Mexico), Kaombo (Angola) and Khazzan (Oman).
Pipeline Technique is the seventh investment in Blue Water Energyâs Fund II.