HUDSON AVENUE PARTNERS ADVISES BLUEWATER AND UK-BASED PIPELINE TECHNIQUE ON ITS TRIPLE ACQUISITION FROM STANLEY BLACK & DECKER

BIRMINGHAM, Mich., Sept. 7, 2022 /PRNewswire/ -- Hudson Avenue Partners ("Hudson Avenue") is pleased to announce that Pipeline Technique Ltd. ("PTL" or the "Company"), a portfolio investment of Bluewater Private Equity ("Bluewater"), has completed a transformational acquisition of three leading energy infrastructure units, CRC-Evans, Pipeline Induction Heat and Stanley Inspection, from Stanley Black & Decker, Inc. ("SBK"). Hudson Avenue served as exclusive financial advisor to Bluewater and PTL and arranged financing to support the acquisition along with future growth capital needs of the Company.

With a 24-year history of global operations, PTL is a market leading provider of onshore and offshore infrastructure welding, field joint coating, and technical engineering services for the energy and renewables sector. PTL's acquisition of the Houston-based energy infrastructure business units from SBK creates a worldwide leader in welding, coating and inspection offerings serving the entire energy spectrum, from traditional hydrocarbon to renewables and carbon capture. The combined platform possesses a deeply talented workforce operating in more than 100 countries and cutting-edge technologies capable of addressing energy infrastructure needs of any scale and around the world.

"The acquisition transaction represents a major step in PTL's global growth and diversification strategy allowing us the ability to work in every corner of the world and across all energy sub-sectors," stated Frederic Castrec, CEO of PTL. "The Hudson Avenue team did a remarkable job of driving certainty and optionality throughout the financing process, allowing our team to remain focused on the complexities of a carve-out of this magnitude."

Martin Somerville, Managing Director of Bluewater, commented "Hudson Avenue's tailored approach provided us with the ability to efficiently reach a globally diverse set of financing sources with intimate knowledge of the energy infrastructure sector, driving an exceptional outcome and a compelling partnership with our debt provider. Given the level of complexity inherent within cross-border carve-out transactions, the Hudson Avenue team proved to be an invaluable resource for us while successfully navigating challenging structural nuances in real-time."

"We are honored to have partnered with Bluewater and PTL to deliver an optimal financing solution vital to the completion of the company's transformative acquisition. This transaction highlights Hudson Avenue's depth of expertise in both domestic and international capital markets along with its innate ability to customize its approach to address highly unique transaction dynamics, while delivering boutique-level attention to detail at every stage of the process." added Ryan Deegan, Managing Partner at Hudson Avenue Partners.

ABOUT PIPELINE TECHNIQUE LTD.

Pipeline Technique is a leading provider of specialist products and services that support the effective delivery of fabrication and construction projects worldwide. Its proven capabilities across robotic welding, non-destructive examination and field joint coating are deployed to support projects and developments, onshore and offshore, for a portfolio of customers from across the energy industry.  The Company's activities span the entire energy spectrum from traditional oil & gas to renewables and carbon capture. Based in Aberdeen, Scotland, Pipeline Technique has a network of offices and worksites around the world.  For additional information, visit www.pipeline-technique.com.

ABOUT BLUEWATER PRIVATE EQUITY

Bluewater is a specialist international private equity firm focused on the middle-market energy sector. Its experienced investment and operating professionals drive value creation as they manage $2.5 billion of investment across a portfolio of over 20 companies. Bluewater has a prime focus on projects or technologies that contribute to the energy transition agenda and works to a diversified investment strategy based on the principles of sustainability and close working partnerships with best-in-class management teams. Bluewater has a strong focus on ESG and is a signatory to the UN Principles for Responsible Investment. For additional information, visit www.bluewaterpe.com.

ABOUT HUDSON AVENUE PARTNERS

Hudson Avenue Partners specializes in designing, structuring, and raising debt and equity capital facilities in support of acquisition, refinancing and recapitalization transactions within the middle market. Founded by investment banking and leveraged finance professionals, the principals of Hudson Avenue have collectively raised and invested over $35 billion of debt and equity capital for clients around the globe. The firm focuses on placement engagements requiring committed capital of $25 million to over $250 million supporting transactions occurring across various industry sectors. Functioning as a fully outsourced capital markets desk for its clients, Hudson Avenue saves valuable time and resources while driving optimal outcomes with an exceptional degree of certainty. For more information, visit www.hudsonavepartners.com.

Media Inquiries:
Deanna Backos | Partner
the midnight oil group
(626) 319-4310
[email protected]

SOURCE Hudson Avenue Partners