Furmanite Acquires ENGlobal’s Gulf Coast Operations
HOUSTON, TEXAS (September 2nd, 2013) – Furmanite Corporation (FRM) today announced that it has completed the acquisition of certain professional service assets of ENGlobal Corporation’s (ENG) Gulf Coast Operations. The completion of the transaction follows Furmanite’s July 16th announcement that it had entered into an agreement to acquire certain assets of the business.
In conjunction with the closing of the transaction, approximately 900 full-time professionals have transitioned to Furmanite Technical Solutions (“FTS”), a newly created division of Furmanite America, Inc. Operating as a “sister organization” within Furmanite, FTS, through their existing leadership, will continue to provide project planning, professional engineering, downstream non-destructive testing and inspection, construction management, mechanical integrity, field support, quality assurance and plant asset management services to refining and petrochemical operators as well as maintenance and Engineering and Construction contractors serving the downstream and midstream oil and gas markets.
“Today our Furmanite family became larger and more diversified; as did the expanded capabilities we now have to service our growing customer base,” said Charles R. Cox, Chairman and CEO of Furmanite. “We welcome all of our new colleagues and are very excited about the special talents that they bring to Furmanite and all of our combined clients.”