Fluor Corporation has signed an agreement with UK-based private equity firm Arle Capital Partners to acquire 100 percent of Stork Holding B.V., based in the Netherlands, for an investment of €695 million ($755 million).

Stork is a global provider of maintenance, modification and asset integrity services associated with large existing industrial facilities in the oil and gas, chemicals, petrochemicals, industrial and power markets. Founded in 1827, Stork has built a powerful brand in the industry and has long-term relationships with a diverse range of blue chip customers.

It has operations in Continental Europe, United Kingdom, the Middle East, Asia Pacific and the Americas, with an annualized run-rate revenue of approximately €1.6 billion ($1.7 billion) and EBITDA of approximately €100 million ($109 million), implying a transaction multiple of just under seven times EBITDA.

Tags: Fluor Corporation