RELEASE: Blackstone Industrial Acquires Sintemar's Roteq Division

(Information sent by the signatory company).

BUSINESS
01 December 2022 Thursday 05:49
NewsEditor

RELEASE: Blackstone Industrial Acquires Sintemar's Roteq Division

(Information sent by the signatory company)

CALGARY, AB, Dec. 1, 2022 /PRNewswire/ -- Blackstone Industrial Holdings Ltd. ( Blackstone), a leading provider of petrochemical technical services, has agreed to acquire a division of a Bilbao, Spain-based industrial services company, Sintemar (SINT), with a Spanish subsidiary, Blackstone Roteq, S.L. Sintemar, Roteq ( Roteq) is an energy industrial maintenance company. The acquisition, scheduled to close on January 1, 2023, will include the division's assets, people and goodwill.

Roteq has worked to build a high value engineering components and technical services business throughout Spain and Portugal. Roteq has a proven legacy of servicing the oil and gas and petrochemical spaces, supporting critical infrastructure for major OEM customers and fleets such as Nuovo Pignone and Baker Hughes. Blackstone's acquisition of Roteq complements its other expansions in Italy and Brazil to support Europe, North Africa and Latin America. In addition, it furthers Blackstone's continued support and partnership with Baker Hughes and reinforces a multi-continental strategy to protect critical fleets with a dynamic service offering.

Founded in 2002 and registered in 2012, Blackstone celebrates 10 years of growth with a dynamic strategy with the consolidation of its position in mind. Blackstone is building business in Canada, the US, Latin America, Sub-Saharan Africa, and now the EU, with a focus on integrating highly-skilled local teams, strong partnerships, and global customers. Blackstone repairs and upgrades custom equipment dedicated to industrial plant applications. Blackstone's services create operational safety and engineering solutions at facilities that produce petrochemical goods, energy, fertilizers and food. He operates service teams on four continents and will join the Roteq team to support Spain and Portugal. "We are excited to welcome this talented group to the Blackstone team," said Blackstone President Allan Schofield. "Consolidating and cultivating these skill sets is essential to further support the power, fertilizer and chemical industries. We will learn from each other and continue to build Blackstone's thriving culture of excellence in service and technical support."

Alex Fulthorpe, P.Eng, Executive Vice President of Blackstone, added: "Blackstone prides itself on building the best teams defending the world's most critical infrastructure. Our expansion into the EU comes at a time when energy maps are being rapidly redrawn. We intend to continue adding great talent, sharing old world knowledge and helping in every way we know how to keep machines running, customers running and populations warm and fed."