Blue Water Energy-backed Pipeline Technique to acquire the oil and gas division of Stanley Black & Decker.

Blue Water Energy-backed Pipeline Technique, a provider of specialist products and services that support effective delivery of fabrication and construction projects worldwide, agreed to acquire the oil and gas division of Stanley Black & Decker, the major international pipeline services and equipment company. Financial terms were not disclosed. "This deal is a major step forward on our journey of diversification and global growth, and the timing of this acquisition could not be better as the sector undergoes significant change. We will invest in the businesses to deliver rapid growth and help realise our enormous potential," Frederic Castrec, PTL CEO.