Houston, TX, September 25, 2015 --(PR.com
)-- Burrow Global, LLC (BG) announced today that it has entered into an agreement to purchase the assets, contracts and certain liabilities of Furmanite Technical Solutions (FTS), a division of Furmanite America. The transaction is scheduled to close on September 28, 2015.
In conjunction with the closing of the transaction, approximately 775 full-time FTS professionals will transition to Burrow Global Services (BGS) a wholly owned subsidiary of parent company Burrow Global, LLC. The combination will increase BGS’ engineering and technical staff to approximately 1200 personnel and the Burrow Global companies will employ nominally 1400 EPC employees. BG will combine the FTS and BG offices in Beaumont and Deer Park, TX and Baton Rouge, LA while obtaining new offices in Lake Charles, LA and Angleton, TX.
“We see this as a true win for all involved including FTS, BG, our clients and our respective employees,” said Mike Burrow, Chairman/CEO of Burrow Global, LLC. “The FTS division was formerly the Gulf Coast operations of ENGlobal Corp and before that it was the legacy ‘Petrocon Engineering’ group. BG’s current senior management team includes former executives from both of those organizations. Additionally, I was the founder and CEO of Petrocon Engineering and also Co-founder and CEO of ENGlobal before coming out of retirement to establish the Burrow Global companies. With that history in mind, this union will be more like a ‘reunion’ of the original staffs of Petrocon, ENGlobal and BG. We look forward to working with our colleagues and friends once again as we unite in our common goal of establishing strong client relationships based on superior performance and safety. The combined organization will offer our clients more technical resources and geographical coverage. This greatly enhances our ability to service our clients’ needs across multiple locations while establishing a platform to better perform their major projects.”
About Burrow Global:
Burrow Global, LLC is a full service engineering, procurement, construction, and facility services firm with specialties in process automation, industrial buildings, plant commissioning and start-up. Premium quality, high-value services and a commitment to safety combined with broad industry experience make Burrow the global provider of choice for many client companies. Founded in November of 2009 by CEO and Board Chairman Michael L. Burrow, P.E., Burrow Global is a privately held firm that has exhibited substantial growth since 2010 by using strategic acquisitions along with organic growth to position the company to address the needs of its valued clients. http://www.burrowglobal.com
Furmanite Corporation, founded in 1920, is one of the world’s largest specialty industrial services companies, providing world class solutions to customer needs through more than 80 offices on six continents. The Company delivers a wide portfolio of inspection and mechanical services which help monitor, maintain and renew the global energy, industrial and municipal infrastructures. Furmanite serves a broad range of industry sectors, including refining, offshore, sub-sea, pipeline, power generation, chemical, petrochemical, pulp and paper, water utilities, automotive, mining, marine and steel manufacturing. World Headquarters and Global Support Operations are located in Houston, Texas; Rotterdam, Netherlands; Kendal, United Kingdom and Melbourne, Australia.
For contract and financial information contact:
Bob Raiford, CFO
For proposal and business development information contact:
Nigel James, Business Development Director