Eddyfi Technologies, a portfolio company of Caisse de dépôt et placement du Québec (CDPQ), has acquired TSC Inspection Systems.
Milton Keynes, UK based TSC was established in 1984, as a spin-off from University College London, by a team of Professors and Lecturers who were recognised leaders in the fields of NDT, robotics and fracture mechanics. The company developed the field-proven ACFM® technology with support from BP, BG Group, Conoco, and Shell, who were keen to significantly improve the reliability of underwater inspections, reduce operator dependence, and provide auditable inspection records.
TSC’s StressProbe™ technology also provides highly versatile, non-contacting strain measurement systems that can operate through coatings in harsh environments, both onshore and subsea.
TSC currently has 35 employees and satellite offices in Aberdeen and Singapore. With this acquisition, Eddyfi Technologies further accelerates its scaling and growth with more than 235 employees and sales in 70 countries.
“We will be investing significantly to advance TSC technologies and products, while preserving the widely recognized history of ACFM and StressProbe. We will move the company closer to a technology provider role in better collaboration with the various players of the industry. Our wide network of sales and applications engineers will allow us to support ACFM users worldwide and offer the best to all those relying on the technology to perform surface inspections, topside and underwater. Finally, we are especially excited about entering the subsea market and expand our range of solutions for the world’s most challenging offshore oil and gas applications,” said Martin Thériault, President and CEO of Eddyfi Technologies.
“We are extremely pleased to see TSC joining an expanding and progressive NDT technology group that really understands the dynamics of the industry today, with a team and vision for growth that offer incredible synergies to the TSC brand, technologies, and products. We believe that Eddyfi Technologies’ scale, expertise, and reputation in advanced NDT technology will be key to advancing the capabilities and applications for ACFM and StressProbe in new exciting markets. It is fantastic to join forces as a unique, world-class NDT technology provider and we appreciate very much the support of our institutional backers Octopus Investments and Encore Capital, and our advisers Simmons & Company International that helped make it happen,” added Chris Walters, CEO of TSC.
photo credit: Eddyfi