Creō-Tech Industrial Group acquires California based MD Stainless Services in partnership with Duke Royalty
‘Innovation through Synergy’
Vancouver, BC, Canada, March 18, 2022 – Creō-Tech Industrial Group Inc., a privately-owned, full service electro-mechanical, industrial automation and multi-disciplinary engineering Group of Companies, announces today the acquisition of California based MD Stainless Services. The transaction was financed by Duke Royalty, North American and European leader in royalty financing.
Neil Johnson, CEO of Duke Royalty, said “This deal is consistent with our current investment strategy, in that it supports a strong management team that is executing a buy-and-build model through the acquisition of long standing, profitable companies in attractive niche and high margin markets. With our investment into Creō-Tech last year we successfully entered the North American markets, and this transaction represents a transformative and important acquisition for Creō-Tech.”
MD Stainless Services joins the Creō-Tech family of companies’ Axial and Tarco Groups, as well as Silhouette Enclosures.
“We are incredibly fortunate to partner with Duke Royalty for this venture. Their capital enables our business to grow without compromising control or ownership, while eliminating refinancing risks. With this partnership, Creō-Tech has successfully acquired an additional company that will drive continued strategic growth,” says Brittany Ray-Wilks, Co-Founder, Director and COO of Creō-Tech. “In this acquisition we welcome an amazing and talented team to our group, while continuing to spread our geographical reach and expand our product and service offerings.”
As a part of the current Creō-Tech family, our Axial & Tarco Group is a boutique, multi-disciplinary engineering firm offering clients EPC (Engineering, Procurement, and Construction) services, in a wide variety of industries, which now will also include processing solutions. With comprehensive industry expertise and technological capabilities, Tarco delivers innovative structural, electrical, mechanical and electro-mechanical engineering, industrial automation and industrial IT solutions, in both new construction and retrofit environments. They also operate an electro-mechanical construction division.
Silhouette Enclosures is a specialized and North American leader in custom industrial enclosure and control room design as well as manufacturing, in a market worth several billion dollars. Silhouette works directly with their clients to customize the structural and electro-mechanical designs, develop innovative acoustic and vibration solutions in the areas of material handling, control rooms, electrical buildings, data centers, large scale generator and power generation, HVAC and mechanical control systems, operator booths, portable scientific laboratories, mechanical enclosures and buildings. They supply products globally, with a primary focus in the Telecommunications, Utilities, Marine & Port, Material Handling, Forestry, Mining, and Oil & Gas Industries. Much of their advanced product offerings find their way from the Canadian West Coast across Canada, and into the USA, particularly down the corridor to California, as well as north into Alaska.
MD Stainless Services (MDSS) specializes in the design, engineering, fabrication and installation of sanitary processing systems for the pharmaceutical, biotech, diary, food and beverage industries – a multi-billion-dollar industry across North America. Systems engineering & installation includes complete hygienic and aseptic process systems supporting utility systems and piping. Installations include FDA compliant, high purity Water for Liquid Injection Systems (WFI), De-ionized Water Systems, and Pure Steam, Clean Steam system. MD Stainless builds and installs the required utility systems, such as chilled and treatment water systems, condensate and waste recovery stations. They are a multi-million dollar enterprise, rendering over 25% EBITDA margins. With Creō-Tech’s engineering capability, project management expertise and support, MDSS will continue growth in existing markets and break into a larger share of the Food & Beverage, Pharmaceutical, Nutraceuticals and Semi-Conductors, etc.
“With this acquisition, we now offer the North American market a full-service solution,” says Dirk Maritz, Co-Founder, Chairman and CEO of Creō-Tech. “Creō-Tech can now design, engineer, manufacture, construct and automate while penetrating several new industries as we continue to grow our multi-disciplinary engineering capabilities, double our revenues, and solidify an already strong balance sheet.”
About Creō-Tech Industrial Group Inc:
Creō-Tech is a privately-owned group of companies offering innovative multi-disciplinary engineering and manufacturing applications in energy, power generation, material handling, mining, manufacturing and processing, food & beverage, pharmaceuticals, telecommunications and utilities markets. In addition to its reputable manufacturing, fabrication and electro-mechanical construction operations, Creō-Tech offers a full complement of services to the North American Industrial mid-market, including structural, electrical, mechanical & electro-mechanical design and engineering services, solutions driven automation and various technical support solutions. Creō-Tech offers a competitive advantage by executing on a customized approach, to meet client’s needs with innovative solutions. To learn more, visit creotechgroup.com.