NGP Exits CRC-Evans in $445M Deal
August 2, 2010- Share:
Natural Gas Partners has sold CRC-Evans International to Stanley Black & Decker (NYSE: SWK) in a $445 million cash deal. CRC-Evans supplies specialized tools, equipment and services for the construction of oil and natural gas transmission pipelines. The company was acquired by NGP in a 2003 LBO for €37 million ($48.4 million) and generated revenues of $353 million in 2009.
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