CRC Evans sells Quantive Group inspection business, boosting capital for core welding focus, aligning with energy sector growth, streamlining operations.
CRC Evans, a prominent player in the energy and infrastructure sectors, has inked an agreement to sell its Quantive Group inspection business, the details of which remain undisclosed. The completion of this strategic move is anticipated in early 2024, marking a pivotal moment for CRC Evans.
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The undisclosed sum from this divestment will significantly bolster CRC Evans’ capital position, earmarked to fuel the company’s growth and reinforce its commitment to its core competencies in welding and coating service delivery. This aligns seamlessly with the company’s overarching strategy, positioning CRC Evans as the preferred partner for the rapidly evolving global energy and broader infrastructure sectors.
This business manoeuvre holds significance not only for CRC Evans but also for the strategic buyer entering the scene. The acquisition of Quantive Group further solidifies the buyer’s footprint in the inspection market. Both entities, CRC Evans and Quantive Group, boast market leadership, bringing to the table complementary core competencies and a shared commitment to a customer-centric approach, operational excellence, and safety.
As CRC Evans finalises this transaction in the coming months, the energy and infrastructure sectors will undoubtedly keep a close eye on how this move shapes the company’s trajectory and contributes to the overarching narrative of industry transformation.