Mergers and Acquistions News
Categories: IT Services & Consulting, Software
July 7th 2011, 17:56PM
Insituform Technologies has expanded its presence in the Middle East following the completion of three acquisition deals.
The Missouri-based firm, which provides proprietary technologies and services for rehabilitating sewage and water systems, has agreed to purchase UK firm Hockway Ltd and its sister company Hockway Middle East for around $4.6 million (£2.8 million).
Hockway provides onshore and offshore metal protection services and manufactures metal protection components.
Insituform has also purchased privately held coating services company CRTS, based in Oklahoma, for approximately $24 million.
Joe Burgess, president and chief executive of Insituform, claimed that the new acquisition deals will boost the firm's presence across the world.
He said: "These acquisitions will strengthen and expand Insituform's Energy and Mining group's presence and capabilities in the Middle East, North America and Brazil.
"[They] complement Insituform's organic growth in the Middle East, which includes an office opened in Oman in January 2010 and the recently announced joint venture in Saudi Arabia between Saudi Trading & Research and Corrpro Companies." 
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