CALGARY - Infrastructure monitoring company Pure Technologies Ltd. (TSXV:PUR) says it has bought Price Brothers (UK) Ltd., a British company, for US$3.25 million.
The seller is Hanson Pressure Pipe Inc., Pure said in a release Friday.
Price Brothers is a specialty engineering company active in the water resources sector. Since'82, the company has been providing specialty engineering advice and project management services to the Great Man-Made River Project in Libya, primarily in pipe design, manufacture and installation.
Pure said Price Brothers' services will complement those of the Calgary company, which has been active on the Libyan project since 2000 providing inspection and monitoring technologies and services.
For its 2007 fiscal year, Price Brothers' revenues were $4 million.
"We are very excited about this transaction, which is an excellent strategic fit for Pure," Pure CEO Peter Paulson said in a release.
"We are committed to growing our business in the international water and wastewater technology and services sector, and PBUK provides us with experienced management and technical expertise to help us achieve this growth."
Pure Technologies is an international company which has developed patented technologies for inspection, monitoring and management of critical infrastructure around the world.
Pure is headquartered in Calgary and has subsidiaries in Maryland and New Jersey.
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