Eddyfi/NDT acquires Norway-based pipeline and subsea inspection business Halfwave
February 18, 2020
On February 18, 2020, Eddyfi/NDT announced its acquisition of HalfWave AS from a group of selling shareholders comprised of EV Private Equity, Shell Technology Ventures, Chevron Technology Ventures, and DNVGL. HalfWave, based in Norway, owns a proprietary ultrasound-based technique which allows high-precision measurements in imperfect conditions called Acoustic Resonance Technology (ART). The combined entity will integrate different areas of expertise to provide a more complete set of Non-Destructive Testing (NDT) technologies such as subsea inspection and pipeline inline inspection.
Novacap alongside its co-investors and CDPQ, along with National Bank of Canada and Investissement Quebec, have provided their support for the transaction.
Eddyfi/NDT is a leading global provider of Non-Destructive Testing (NDT) technologies for customers in mining, aerospace, oil & gas, transportation and power.
McCarthy Tétrault advised Eddyfi/NDT with a team led by Karl Tabbakh and Charles-Antoine Souliere.