Archirodon Group announces acquisition of Technipetrol Hellas
Archirodon Group announced the 100% acquisition of Technipetrol Hellas, a subsidiary of TechnipFMC. Details about the value of the transaction was not disclosed. The agreement between the two International Groups was signed on 29th March 2018 and the transaction was completed on 18th April 2018.
This acquisition was approved by the Board of Directors and the Shareholders of Archirodon Group, following a successful initial phase of evaluation and appropriate due diligence.
Technipetrol Hellas is serving the refineries in Greece and other countries by providing EPCM and Engineering services for more than 35 years. Presently the Technipetrol Hellas’ engineers and experts have ongoing Oil & Gas downstream work for Refineries as well as project management services for the Trans Adriatic Gas Pipeline (TAP).
Mr. Dennis Karapiperis, CEO of Archirodon Group, in his message, stated: “We welcome our new colleagues from Technipetrol Hellas who join Archirodon’s journey, bringing on board their valuable expertise in engineering, project management and execution with a wealth of references in the Oil & Gas sector. It is anticipated that there will be substantial Group-wide benefits from the synergies with the Oil & Gas EPC activities of Archirodon Energy Division and other relevant subsidiaries. The acquisition of Technipetrol Hellas enhances our overall EPC capabilities in the field of Oil & Gas enabling us to better meet the highest expectations of our Clients. We are confident that our Clients will find this acquisition a valuable contributor of success”.
(Archirodon Group Press Release)