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STR Inspection Services enlisted CDI Global to negotiate sale to GQS
MELBOURNE, Australia - May 21, 2019 - illiNews -- CDI Global, an international M&A advisory firm, is pleased to announce the successful divestment of STR Inspection Services (STR) to GQS.
STR engaged CDI Global Australia (CDI ANZ) early in the process to develop a divestment plan and information memorandum. CDI Global worked to identify potential acquirers for STR, and begin a dialogue with each potential entity, overseeing communication. In addition to managing initial discussions, they also coordinated site visits.
STR reflected on the engagement, "We would like to thank CDI for your diligence, advice, persistence and patience in the long drawn out process of getting the deal for the sale of STR finally wrapped up. We acknowledge and sincerely appreciate their efforts and would have no hesitation in recommending their services."
STR was established in 2010 to provide a range of inspection services for major industrial plants. The experience of their inspectors and works management systems means they have the ability to service plant outages and operating equipment from visual inspection to arranging and supervising weld procedures and repairs. They have grown to service major industrial plants and construction projects in the oil & gas, pulp & paper, mining, energy, power generation and chemical manufacturing sectors across Australia, Asia and Europe.
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CDI Global identified GQS, an international provider of technical and quality assurance services, as an ideal acquirer for STR. They went on to negotiate and finalize the non-binding offer, and develop and manage the virtual data room, corporate advisors and face to face meetings between STR and GQS. STR was an ideal acquisition for GQS based on an alignment of delivering high quality inspection services and audits to the energy industry and other related sectors. GQS combines specialist engineering knowledge with industry-wide quality process experience to deliver optimized solutions.
"We could not be more pleased about our role in the transaction," said CDI ANZ Partner Chris O'Connor. "We have worked with STR for many years and the sale to GQS is a perfect fit and will utilise STR capabilities throughout Asia Pacific. The goodwill and professionalism of STR and GQS is a positive sign of the future success of the transaction."
CDI Global specializes in finding the right opportunities for cross-border mergers and acquisitions, using their international offices that integrate their network to provide on-location expertise and support.
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About CDI Global
CDI Global offers financial advisory services focusing on middle-market transactions. The firm specializes in international company search formergers and acquisitions, divestitures and joint ventures, buy-side and sell-side representation, and due diligence advisory services. They have over 1,000 transactions completed in the past 35+ years covering more than 25 industries. CDI Global was founded in 1973 and is based in Chicago, Illinois with 35 additional offices in Asia, Europe, North America, Oceania, and South America.They are known for the quality of their international personnel, industry focus, trademark interview process, and in-depth business development expertise. For more information visit https://www.cdiglobal.com.
Local knowledge, global reach.
STR engaged CDI Global Australia (CDI ANZ) early in the process to develop a divestment plan and information memorandum. CDI Global worked to identify potential acquirers for STR, and begin a dialogue with each potential entity, overseeing communication. In addition to managing initial discussions, they also coordinated site visits.
STR reflected on the engagement, "We would like to thank CDI for your diligence, advice, persistence and patience in the long drawn out process of getting the deal for the sale of STR finally wrapped up. We acknowledge and sincerely appreciate their efforts and would have no hesitation in recommending their services."
STR was established in 2010 to provide a range of inspection services for major industrial plants. The experience of their inspectors and works management systems means they have the ability to service plant outages and operating equipment from visual inspection to arranging and supervising weld procedures and repairs. They have grown to service major industrial plants and construction projects in the oil & gas, pulp & paper, mining, energy, power generation and chemical manufacturing sectors across Australia, Asia and Europe.
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CDI Global identified GQS, an international provider of technical and quality assurance services, as an ideal acquirer for STR. They went on to negotiate and finalize the non-binding offer, and develop and manage the virtual data room, corporate advisors and face to face meetings between STR and GQS. STR was an ideal acquisition for GQS based on an alignment of delivering high quality inspection services and audits to the energy industry and other related sectors. GQS combines specialist engineering knowledge with industry-wide quality process experience to deliver optimized solutions.
"We could not be more pleased about our role in the transaction," said CDI ANZ Partner Chris O'Connor. "We have worked with STR for many years and the sale to GQS is a perfect fit and will utilise STR capabilities throughout Asia Pacific. The goodwill and professionalism of STR and GQS is a positive sign of the future success of the transaction."
CDI Global specializes in finding the right opportunities for cross-border mergers and acquisitions, using their international offices that integrate their network to provide on-location expertise and support.
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About CDI Global
CDI Global offers financial advisory services focusing on middle-market transactions. The firm specializes in international company search formergers and acquisitions, divestitures and joint ventures, buy-side and sell-side representation, and due diligence advisory services. They have over 1,000 transactions completed in the past 35+ years covering more than 25 industries. CDI Global was founded in 1973 and is based in Chicago, Illinois with 35 additional offices in Asia, Europe, North America, Oceania, and South America.They are known for the quality of their international personnel, industry focus, trademark interview process, and in-depth business development expertise. For more information visit https://www.cdiglobal.com.
Local knowledge, global reach.
Source: CDI Global
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