Business

Pure Technologies Ltd. announced July 28 that it has agreed with the shareholders of The Pressure Pipe Inspection Company Ltd. (PPIC) to purchase all of the issued and outstanding shares of PPIC for up to $34.9 million in cash and common stock of Pure. Both companies' boards have approved the transaction, subject to certain conditions and to the approval of the TSX Venture Exchange. The transaction is expected to close by August 31, 2010.

Since 1966, DFI Corporation has supplied the oilfield construction industry with first-class pile-driving, pile supply and trucking services. As the core business for DFI, oil and gas have provided the company with significant growth and success; however, the seasonal nature of the oil and gas industry means that projects are not balanced throughout the year.

Business updates from Ritchie Bros., John Deere, Miller Pipeline, CONTECH, WilsonMiller, Sukut Construction, AEM, Dexter + Chaney, Spectrum Construction Software, GEI Consultants and Cardno TBE, plus web exclusives from Ledcor, EPRI, PPI Solutions and Millennium Pipeline.

Committed to providing their customers with the products and solutions they need to succeed in business, Vermeer Corporation has newly redesigned the company Web site — Vermeer.com.

Advertisers in the print edition of Underground Construction, July 2010, Vol. 656 No. 7.

Environmental Crossings Inc. (ECI) announced June 3, that long time shareholder Bruce Brasher has purchased all of the outstanding shares and has assumed the position of president. Greg Charney of Lone Star Investments Corp., The Woodlands, TX, was advisor on this transaction and sourced the needed financing.

KSEnergy Services announced that CIVC Partners, in partnership with True North Equity, has acquired an interest in KSEnergy Services. CIVC is a 40-year-old Chicago-based private equity firm with over $1.3 billion under management and a long history of investing in highly successful, closely held businesses. True North is a Detroit-based firm that makes investments in utility maintenance companies.

Caterpillar, Inc. announced July 1 that it has acquired all assets of Underground Imaging Technologies, Inc., an advanced geophysical services company and technology developer based in Latham, N.Y. The acquisition will give Caterpillar the capability to provide geophysical services, specializing in providing three-dimensional representations of underground utilities and other targets.

ITT Corporation announced June 21 that it intends to buy Godwin Pumps for $585 million. The deal brings the world's largest manufacturer of submersible pumps together with the largest producer of diesel-driven dry install pumps, and the combined organization is expected to become the largest company providing drainage pumps serving the global industrial, construction, mining, municipal, oil and gas segments.

Updates from Akkerman, GTI, Vermeer, CONTECH, Caterpillar, Ditch Witch, CNH, ADS, Lockwood Andrews & Newnam, SAK and more.

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