The pair signed a definitive agreement which will see ShawCor snap up Desert for a total consideration of about $260 million, which it will fund through cash and through available revolving credit facilities.
Desert provides NDT services for new oil and gas gathering pipelines and infrastructure integrity management services and has 18 branches across the US.
The company’s trailing 12-month earnings before interest, taxes, depreciation and amortisation is more than $33 million, with operating income of roughly $22 million.
“Desert's
