Carr Group Purchases NuVision Engineering
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Carr Group Purchases NuVision EngineeringWälischmiller Engineering
Carr's Group plc has recently fully purchased ESI Holding Company Inc, the holding firm of US-based NuVision Engineering.
NuVision, founded in 1971 and headquartered in Pittsburgh, Pennsylvania, with operations in Charlotte, North Carolina, is a leading technology and applications engineering company focused on providing value in commercial nuclear and power plant facilities, government waste remediation facilities, and waste clean-up. Its customers include the US Department of Energy, major nuclear energy suppliers, public utilities, and international governments.
Carr's Group CEO Tim Davies said, "I am delighted to announce the acquisition of NuVision Engineering Inc. This acquisition lays the foundations for growth into the US 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 provided by our sister company Wälischmiller into the US market."
NuVision president and CEO Van Walker 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 US and wider global nuclear markets."
The acquisition provides a strong foothold into the main nuclear markets in the US and will enable revenue synergies with Carr's existing nuclear engineering businesses, including the opportunity to market Wälischmiller's products in the US. It will also extend Carr'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 signed on 20 July and being delivered by Wälischmiller's UK manufacturing business in the next financial year.
Wälischmiller managing director Claudia Reich said: "We are excited to have NuVision as a sister company and look forward to expanding our existing robotics and remote handling business in the US market.
"This is in line with Carr's stated strategy of growing our international footprint, focusing on growth markets with significant potential, and to be at the forefront of innovation and technology."
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 Fluidics™: 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, complementing the range currently offered by Carr's existing remote handling operations
- R&D consultancy: working with the US Department of Energy to develop innovative solutions for the nuclear industry
Highlights of the acquisition:
- US presence for the wider engineering division providing access into the main nuclear markets in the US
- 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 US nuclear market into the existing engineering division