Eddyfi/NDT announces today that it has entered into a definitive agreement to acquire Zetec, a subsidiary of Roper Technologies, Inc. (NYSE: ROP). The transaction is expected to close at the end of the year and is subject to customary closing conditions and approvals.
Founded 50 years ago, Zetec is a major player in the non-destructive industry, with global engineering and manufacturing centers in Quebec City, Canada, and corporate headquarters in Snoqualmie, Washington, USA. Furthermore, Zetec is present around the globe, with Centers of Excellence in Houston, Paris, Seoul and Shanghai. With a footprint in major industries such as Power Generation, Aerospace, Defense, Rail and Manufacturing, its advanced NDT solutions contribute to protecting highly critical assets worldwide.
More specifically, following the closing of the transaction, Zetec will formally join Eddyfi Technologies, a business unit of Eddyfi/NDT. “For over 10 years, we have achieved great success in the NDT market by focusing on specialized NDT technologies. Through innovation and a customer-focused approach, we are a driving force in our industry. We believe that the acquisition of Zetec will complement our market coverage and expertise and allow new opportunities to emerge. I look forward to the game-changing ideas our joined forces will bring to the industry” says Pierre-Hugues Allard, President of Eddyfi Technologies.
“For many reasons, one of them being that both companies share the same roots, I believe that our Group is the ideal home for Zetec’s team. We are very excited about the idea to reconnect and collaborate with past colleagues, friends, and clients to imagine new possibilities with Eddyfi/NDT’s fresh perspective on the market. With our combined strengths and experience, as well as our respective technology-leadership, the fit is natural and will create a stronger company” adds Martin Theriault, CEO of Eddyfi/NDT.
Credit Suisse acted as financial advisor to Eddyfi/NDT. McCarthy Tétrault and Foley & Lardner LLP served as its legal advisors.
Eddyfi/NDT is a fast-growing, innovative, and private industrial technology group focused on advanced diagnostic technologies to monitor the world’s infrastructure health. The Group serves asset owners, large engineering firms, and service companies globally in markets such as Aerospace, Civil Infrastructure, Energy, Mining, Power Generation, and Rail. Eddyfi/NDT believes that advancing science and technology via sensors, hardware, robotics, and software makes the world more productive and safer for people, business, and nature. The company employs over 1,300 people throughout 28 offices worldwide and serves clients in more than 110 countries. More information can be found on the company’s website : www.eddyfi-ndt.com
About Eddyfi Technologies
Eddyfi Technologies offers a diversified portfolio of NDT instruments, sensors, software, and robotic solutions for the inspection of critical components and assets in key industries such as aerospace, oil & gas, and power generation. Eddyfi Technologies serves customers in more than 110 countries. Headquartered in the advanced NDT hub of Québec (Canada), Eddyfi Technologies employs more than 420 people, and leverages nine centers of excellence and sales offices worldwide, all staffed by NDT experts. Learn more at www.eddyfitechnologies.com
Zetec is a global leader in nondestructive testing (NDT) solutions for the critical inspection needs of industries the world counts on every day including Power Generation, Oil and Gas, Aerospace, Automotive, Maritime, Military, Rail, and Manufacturing. For more than 50 years, Zetec has advanced NDT standards and science that protect customers’ most important assets and ensure the quality of their products, processes, and services. Learn more at www.zetec.com
About Roper Technologies
Roper Technologies is a constituent of the S&P 500, Fortune 500, and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the Company’s website at www.ropertech.com
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