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Stork adds to corporate family

Stork adds to corporate family

Ewan Robertson

Two firms have advised on the acquisition of Giovenco Industries by Stork Technical Services Holding BV.

Firm: Piper Alderman (Stork Technical Holdings); Thomson Geer (Giovenco Industries)

Deal: Asset-management firm Stork purchased industrial services group Giovenco

Area: M&A

Key Players: The Piper Alderman team was headed up by partner Ewan Robertson, assisted by senior associate Rohan Pardasani and associate Lucy Carter. Partner David Zwi led the Thomson Geer team.

Deal Significance: Giovenco has annual revenues of more than $150 million and approximately 875 employees.

The company specialises in providing fabric maintenance and mechanical services, predominantly to clients in the oil, gas and natural resources sectors, according to a statement from Piper Alderman.

Its services include design and installation of access systems, surface preparation and finishing, insulation fabrication and installation, as well as tank cleaning and repair.

Stork CEO Arnold Steenbakker welcomed Giovenco founder Paul Giovenco on board, praising the company for its good track record in customer service and safety.

“We are both confident and excited that the current presence of Giovenco on various client sites, many of which we are co-located, will provide a great platform to support operators as they transition from the construction phase into full scale operations during the life cycle of their facilities,” he said.

 

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