|By PR Newswire||
|March 18, 2014 05:00 AM EDT||
PORTLAND, Ore., March 18, 2014 /PRNewswire/ -- Professional infrastructure & environmental services consultancy Cardno today announced its largest acquisition to date with the purchase of the PPI Group of companies (PPI) headquartered in Houston, Texas for US$145 million.
PPI provides specialist engineering services to the oil and gas sector in the United States, West Africa and Asia Pacific and employs 760 staff. PPI generated annual revenue of US$133 million and EBITDA of US$21.5 million in the year ended 31 December 2013.
Cardno CEO, Michael Renshaw said the acquisition of PPI is in line with the firm's strategy of expansion in attractive growth markets such as energy.
"This acquisition will strengthen Cardno's ability to service the expanding oil and gas sector in the United States and in key emerging markets," Mr. Renshaw said.
He said PPI's engineering services to the midstream and upstream oil and gas sector will complement Cardno's existing environmental and permitting capabilities in this market. He also commented that PPI provides Cardno with new capabilities and proprietary systems in asset and quality management which has application in other asset intensive industries.
"While concentrated on the oil and gas market, PPI is diversified in terms of services offered and in geographic markets served. In addition to the primary markets of the United States and Nigeria, PPI is currently delivering projects in Australia, Singapore, South Korea, Japan, Malaysia and Angola," Mr. Renshaw said.
Integral to PPI's significant growth history and reputation has been their ability to maintain long-term relationships with the major multi-national and national oil and gas clients such as five of the oil majors, BHP Billiton, Cobalt and Noble Energy.
Mr. Renshaw said: "The complementary and overlapping client base of Cardno and PPI presents strong potential for cross-selling across the United States, Latin America, Africa and Asia Pacific."
"Oil, gas and energy clients will now account for around 25% of Cardno's annual revenue. We believe this market presents solid opportunities for organic growth," he said.
The acquisition aligns with Cardno's strategy of market and service diversification and creates a range of organic growth opportunities through:
- Deepening Cardno's capabilities to support upstream and midstream oil and gas sector growth
- Experienced leadership bringing new and mutual relationships with multi-national and national oil and gas companies
- Building on a combined successful track record across Africa and complementary expansion plans for emerging economies in addition to Australia and the US
- Providing a platform to expand PPI's services across other asset intensive sectors and clients
Key acquisition risks are mitigated by Cardno's robust due diligence and integration process.
"Plans and incentives are in place to ensure PPI's key management will remain active in the company, which will be known as Cardno PPI," Mr. Renshaw said.
PPI President Randy Sullivan said the global reach and broader service lines offered by Cardno would be well received by their clients.
"Our staff are excited to join Cardno. There is a strong cultural alignment between the two firms, a fierce commitment to safety and a track record in delivering projects in both developed and emerging markets," Mr Sullivan said.
For further information:
Paul Gardiner, President, Americas Region, Cardno +1 (503) 734-1801
Michael Renshaw, Chief Executive Officer, Cardno +617 3369 9822 or +61 448 091 267
Graham Yerbury, Chief Financial Officer, Cardno +617 3369 9822 or +61 450 324 613
Randy Sullivan, President, PPI Group +1 (713) 464-2200
About Cardno: Cardno is an ASX200 professional infrastructure and environmental services company, with specialist expertise in the development and improvement of physical and social infrastructure for communities around the world. Cardno's team includes leading professionals who plan, design, manage and deliver sustainable projects and community programs. Cardno is an international company, listed on the Australian Securities Exchange [ASX: CDD]. www.cardno.com
About PPI Group: PPI is a multi-discipline engineering group headquartered in Houston, Texas. PPI offers total project management services including initial scoping, field development planning, front end engineering and design (FEED), detailed engineering and design, drilling and construction project management, field operations, procurement and Quality Assurance. With expertise in all facets of drilling, production and construction operations. www.ppitech.net
SOURCE Cardno USA
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Dec. 19, 2014 12:45 PM EST Reads: 458
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
Dec. 19, 2014 12:15 PM EST Reads: 481
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 12:00 PM EST Reads: 1,065
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 12:00 PM EST Reads: 1,094
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Dec. 19, 2014 11:30 AM EST Reads: 2,268
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Dec. 19, 2014 11:00 AM EST Reads: 1,054
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 11:00 AM EST Reads: 1,821
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Dec. 19, 2014 10:00 AM EST Reads: 1,930
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Dec. 19, 2014 10:00 AM EST Reads: 1,664
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 09:00 AM EST Reads: 1,868
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Dec. 19, 2014 08:00 AM EST Reads: 1,846
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Dec. 19, 2014 07:00 AM EST Reads: 2,141
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Dec. 19, 2014 06:30 AM EST Reads: 2,125
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
Dec. 19, 2014 04:00 AM EST Reads: 1,949