CRC-Evans Pipeline International announced July 30 that CRC-Evans has been acquired by Stanley Black & Decker for $445 million in cash. The companies expect that the acquisition should enhance CRC-Evans’ global growth strategy and its services to customers worldwide. R&D and technology leadership will continue to be emphasized, and Stanley Black and Decker’s resources should enable CRC-Evans to achieve even higher performance standards.
“Our customers can expect that their relationships with CRC-Evans will not be interrupted,” said CRC-Evans CEO Tim Carey. “It’s business as usual. Our approach to the business will remain the same, and our operations will continue to be everything they expect – and more.”
Stanley Black & Decker is pursuing a strategy to diversify its revenue base and build its Infrastructure Solutions growth platform through acquisitions. The company calls CRC-Evans an integral part of this platform.
CRC-Evans CEO Tim Carey adds, “Now we – and our customers – can look forward to a new chapter in the CRC-Evans story in concert with Stanley Black & Decker.”