Carr’s Group plc, the Agriculture and Engineering group based in Carlisle is pleased to announce it has acquired 100% of ESI Holding Company, Inc., the holding company of USA based engineering company NuVision Engineering, Inc. (“NuVision”) as part of its continued focus on strategic growth within its Engineering Division.
NuVision, founded in 1971 and headquartered in Pittsburgh, Pennsylvania with operations in Charlotte, North Carolina, is a leading technology and applications engineering company focussed on providing value in commercial nuclear and power plant facilities, government waste remediation facilities and waste clean-up. Its customers include the USA Department of Energy, major nuclear energy suppliers, public utilities, and international governments.
NuVision’s specialist technologies and activities undertaken include:
- MSIP®: a patented technology to improve nuclear safety and prolong operational life through crack mitigation in power plant welds;
- Power FluidicsTM: maintenance free systems for mixing, sampling, and retrieving hazardous/radioactive liquids, slurries and sludge;
- Decontamination: efficient and effective systems for decontaminating pipe-ends and other artefacts in nuclear power plants during standard maintenance procedures;
- Robotics: a suite of heavy duty manipulators for use in clean-up operations, adding hydraulic systems to the electric range currently offered by the Group’s existing remote handling operations; and
- R&D consultancy: working with the USA Department of Energy to develop innovative solutions for the nuclear industry.
The acquisition provides a strong foothold into the main nuclear markets in the USA and will enable revenue synergies with the Group’s existing nuclear engineering businesses, including the opportunity to market Wälischmiller’s products in the USA. It will also extend the Group’s service capability in the nuclear market due to the complementary nature of NuVision’s product range. NuVision will also act as a key supplier under a major nuclear contract at Sellafield signed on 20 July 2017 and being delivered by our UK Manufacturing business, Bendalls Engineering in the next financial year.
It is in line with the Group’s stated strategy of growing our international footprint, focussing on growth markets with significant potential and to be at the forefront of innovation and technology.
Highlights of the acquisition
- USA presence for the wider engineering division providing access into the main nuclear markets in the USA
- Provide the group with specialised IP
- Extensive contract and opportunity pipeline
- Innovative technology
- Revenue synergies with Bendalls / Wälischmiller and complementary products to our existing
- manipulator business
- Experienced senior management team to remain with the business, integrating their knowledge and relationships in the USA nuclear market into the existing engineering division
Commenting on the acquisition, Tim Davies, CEO, said:
“I am delighted to announce the acquisition of NuVision Engineering, Inc. This acquisition lays the foundations for growth into the USA and wider international nuclear markets and provides us with access to specialised IP and a strong pipeline of long term contract opportunities. Additionally, this presents a significant opportunity for us to expand our existing remote handling operations into the USA market.
“The management team at NuVision have created long lasting and sustained relationships with a number of major nuclear customers and we look forward to building on this and continuing to invest in the business and the team.”
“As a group that was established and is head quartered in Carlisle we are excited to have acquired a business that has market leading products and capabilities originally developed in Cumbria. At a time when our clients demand innovation we look forward to bringing a capability back home to address some of the world’s most challenging nuclear requirements.”
Also commenting on the acquisition, Van Walker, President and CEO of NuVision, said:
“I am very excited about the prospect of NuVision Engineering becoming part of Carr’s Group. The acquisition will enable the two companies to work seamlessly in providing value adding engineering services to the USA and wider global nuclear markets.”