Eddyfi/NDT Completes the Acquisition of NDT Global

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Eddyfi/NDT, through a strategic partnership with Novacap and Caisse de dépôt et placement du Québec (“CDPQ”), announced today the acquisition of NDT Global. Headquartered in Dublin, Ireland, and with main operations in Stutensee, Germany, NDT Global is a premium ultrasonic pipeline inline inspection (“ILI”) and data analysis supplier for onshore and offshore pipelines worldwide. It delivers a full range of services including geometry and deformation inspection, metal loss and crack inspection, defect assessment and fitness for purpose investigations around the world. The combination of Eddyfi Technologies and NDT Global is an innovative and private Test & Measurement (“T&M”) technology group focused on Non-Destructive Testing (“NDT”). Eddyfi/NDT will now have 1,000+ employees working in 20 global offices and serving customers in 110 countries. It is composed of high-end technology business units operating in two different segments: NDT Equipment and Application-Specific Integrated Inspections. The global headquarters are located in the advanced NDT hub of Québec city. false false false This merger successfully joins two leaders in their respective markets: Eddyfi Technologies as a provider of the highest performance NDT inspection technologies and NDT Global as an advanced ultrasonic ILI and integrity services provider. Global pipeline operators have come to rely on NDT Global for the most accurate assessment of the condition of their pipeline assets. Coupled with the additional expertise in non-destructive testing techniques and technology of Eddyfi Technologies, NDT Global will deliver increased accuracy and enhanced information to assure the safe operation of pipelines. false false false Furthermore, to complete this acquisition, Eddyfi/NDT confirmed a new round of equity financing with Montreal-based Novacap, making its first investment in the company with CA$ 163 million, and CDPQ, making an additional investment of CA$ 107 million. The new equity investment is combined with new debt financing provided by a banking syndicate led by National Bank of Canada and additional debt from Investissement Quebec (“IQ”). Over CA$ 600 million was raised to complete the NDT Global acquisition as well as pursue other strategic opportunities. false false false Baird acted as an exclusive financial advisor to Eddyfi/NDT in the transaction. McCarthy Tétrault acted as lead legal advisor to Eddyfi/NDT. false false false About Eddyfi/NDT Eddyfi/NDT is a fast-growing, innovative private Test & Measurement (T&M) technology group focused on Non-Destructive Testing (NDT). Through its 2 divisions, Advanced Non-Destructive Testing (NDT) Equipment and Advanced Application-Specific Integrated Inspection, it caters to asset owners, large engineering firms, and service companies globally in markets such as Aerospace, Energy, Mining, Power Generation, or Transportation. Eddyfi/NDT believes that advancing NDT science and technology via sensors, hardware, robotics and software makes the world safer, more productive and more environmentally secure. The company employs over 1,000 people throughout 20 offices worldwide, and serves clients in more than 110 countries. www.eddyfi-ndt.com About NDT Global NDT Global is a leading supplier of ultrasonic pipeline inspection and data analysis. Its state-of-the-art inspection fleet provides the entire inline inspection service (ILI) spectrum for onshore and offshore pipelines worldwide. NDT Global’s full range of services includes geometry and deformation inspection, metal loss and crack inspection, defect assessment and fitness for purpose investigations. First run success, best data quality and rapid report delivery are its key benchmarks. A skilled engineering and project management team, complemented by one of the best data analysis teams in the industry, has inspected and analyzed pipelines worldwide. The company has offices in Australia, Canada, Germany, Ireland, Mexico, Spain, UAE, UK and USA. www.ndt-global.com About Novacap Founded in 1981, Novacap is a leading Canadian private equity firm with CA$3.6 billion of assets under management. Its distinct investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous portfolio companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class businesses. Backed by leading global institutional investors, Novacap’s deals typically include leveraged buyouts, management buyouts, add-on acquisitions, IPOs, and privatizations. Over the last 39 years, Novacap has invested in more than 90 companies and completed more than 130 add-on acquisitions. The company has offices in Toronto, Ontario and Brossard, Quebec. For more information, please visit www.novacap.ca ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2019, it held CAD 326.7 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.