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Carr’s Group acquires NuVision Engineering, Inc.

August 7, 2017

Carr’s Group plc, the Agriculture and Engineering group, is pleased to announce it has acquired 100% of ESI Holding Company, Inc., the holding company of US based engineering company 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. 
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 artifacts 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 the Group’s existing remote handling operations
  • R&D consultancy: working with the US Department of Energy to develop innovative solutions for the nuclear industry

Strategic rationale

The acquisition provides a strong foothold into the main nuclear markets in the US and will enable revenue synergies with the Group’s existing nuclear engineering businesses, including the opportunity to market Wälischmiller’s products in the US.  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 signed on 20 July 2017 and being delivered by our UK Manufacturing business in the next financial year.
 
It is in line with the Group’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.

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 specialized 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
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 US and wider international nuclear markets and provides us with access to specialized 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 US 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.”

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 US and wider global nuclear markets.”

About Carr’s Group plc:

Carr’s is an international leader in manufacturing value added products and solutions, with market leading brands and robust market positions in Agriculture and Engineering, supplying customers in 36 countries around the world.

Its Agriculture division manufactures and supplies feed blocks for livestock, farm machinery and runs a UK network of rural stores, providing a one-stop shop for the farming community.  Its Engineering division designs and manufactures bespoke equipment for use in the nuclear, petrochemical, oil and gas, pharmaceutical, process and renewable energy industries, including robotic and remote handling equipment.

 
     

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