Description of Transaction
Sequeira Partners was engaged to assist McCoy Global with the divestiture of Inotec Coatings and Hydraulics Inc., a non-core operating segment. The Sequeira team provided advisory assistance to McCoy through a structured sale process including pricing, the approach to targets, due diligence, the negotiation of transaction terms and final deal completion.
The sale of this division to Edmonton based Corrosion and Abrasion Solutions Ltd. (CASL) reinforces McCoy Global’s strategy to become a pure play developer and provider of advanced tubular products and technologies. In June of 2014, Sequeira Partners also assisted McCoy in the divestiture of Peerless Limited.
McCoy provides innovative products and services to the global energy industry, and operates internationally through direct sales and distributors with its operations based out of Western Canada, the U.S. Gulf Coast, Europe and Asia-Pacific. McCoy’s corporate office is located in Edmonton, Alberta, Canada with offices in Alberta,Louisiana, Texas, Aberdeen, Singapore and Luxembourg.
Corrosion and Abrasion Solutions Ltd. is focused on protecting the world’s energy, mining and industrial infrastructure from wear caused by corrosion and abrasion through prevention and monitoring, surface improvement and innovative product and service development. The business is focused on building the industry leading corrosion solutions provider by attracting the best possible people, being progressive and innovative in solving problems and working with suppliers to develop solutions.