Combined acquisition worth $216 million
Insituform Technologies, Inc. has signed a definitive agreement to acquire The Bayou Companies, LLC and Corrpro Companies, Inc. for a combined consideration of $216 million, including the repayment of debt.
The deal with The Bayou Companies, a provider of products for the oil and gas industry, is a $125 million asset acquisition, while the deal with Corrpro, a provider of corrosion protection and pipeline maintenance services, is a merger transaction with an enterprise value of approximately $91 million.
“These acquisitions provide a unique opportunity for us to transform our energy and mining business,” said Joseph Burgess, Insituform’s president and CEO. “Going forward, we also will remain focused on our existing sewer and water businesses, and are excited about how these platforms fit together.”