ShawCor Completes Acquisition of Fineglade

On October 24, 2012 ShawCor Ltd. completed the acquisition of the remaining 60% of Fineglade Limited not previously owned by it from an entity controlled by Sophia Capital, for an aggregate purchase price of approximately C$135 million. Fineglade Limited holds approximately 96% of the outstanding shares of Socotherm S.p.A, an international pipe coating contractor primarily serving the oil and gas industry, with headquarters in Italy and active operations in Brazil, Argentina, Venezuela, the Gulf of Mexico and Italy. ShawCor Ltd. is an energy services company specializing in products and services for the pipeline and pipe services and the petrochemical and industrial segments of the oil and gas industry. ShawCor operates through seven divisions with over seventy manufacturing and service facilities located around the world.

ShawCor’s legal team was led by Tim Hutzul, Vice President-Legal, and included Darrell Ewert, Corporate Secretary, and Samir Murji. ShawCor was assisted by a team from TRC-Sadovod LLP comprised of William Sheridan, Paul Collins and Christopher Garrah (corporate); Eric Friedman (financial services); and James Musgrove and Daniel Edmondstone (competition).