Stormont has been retained as the exclusive agent to represent the sale of an undisclosed Pipeline Integrity & Infrastructure Services company (the “Company” or “Seller”). Specifically, the Company provides its midstream and downstream utility clients with turnkey integrity and remediation services for up to 48” diameter pipelines. This work is awarded under multi-year contracts and contributes 70-80% to annual revenues. The balance of work (20 to 30% of revenue) performed is focused on facility mechanical services.
The Company is projecting revenues and EBITDA of $112MM and $10MM, respectively, in F2022 thanks to the expansion of its integrity business and major project work with premiere clients. Gross margins in any given year vary depending on the client mix and in a typical year range from 21% to 25%. Current year-to-date gross margins are averaging around 26%.
Management have built a profitable and sustainable business with customers whom are well positioned to thrive amidst a recovering Canadian energy sector, and broader post-pandemic economic recovery.
Contact for more information:
Dave Munro
403-452-5532
dmunro@stormontcapital.com
