- Shawcor ( OTCPK:SAWLF ) said Tuesday that it has sold its Lake Superior Consulting operating unit to a private investment group, including members of LSC management, in a transaction generating ~C$8 million in gross proceeds.
- The LSC business, reported within the company’s Pipeline and Pipe Services segment, offers engineering, consulting and field inspection services to the US onshore pipeline and broader energy infrastructure markets.
- Proceeds from the sale will be used to reduce the company’s existing indebtedness.
- Pursuant to the deal, the company’s PPS reporting segment now consists of two operating units: the Pipeline Performance Group business and the Integrity Management business.
For further details see:
Shawcor divests its Lake Superior Consulting Business