Calgary, AB – Blackstone Industrial Holdings Ltd. (Blackstone), a leading petrochemical technical services provider, has come to a definitive agreement to acquire a division of a Bilbao, Spain-based industrial services company, Sintemar (SINT) with a Spanish subsidiary, Blackstone Roteq, S.L. Sintemar, Roteq (Roteq) is an energetic industrial maintenance company. The acquisition, which is scheduled to close on January 1, 2023, will include the division’s assets, personnel and goodwill.
Roteq has worked to build a high-value engineered components and technical services business throughout Spain and Portugal. Roteq has a proven legacy of services in the petrochemical and oil & gas spaces and supports critical infrastructure for major clients and OEM fleets, such as Nuovo Pignone and Baker Hughes. Blackstone’s acquisition of Roteq complements its other expansions in Italy and Brazil to support Europe, North Africa and Latin America. In addition, it furthers Blackstone’s continued support and partnership with Baker Hughes and solidifies a multi-continent strategy to protect critical fleets with a dynamic service offering.
“It is my personal opinion that the Canadian Energy Industry has many reasons to defend its reputation and share globally,” said Alex Fulthorpe, P.Eng, Executive Vice President of Blackstone. “We have world-renowned trade secrets, technology, best practices, safety, quality, technology and respect for intelligent, hard-working teams. Unfortunately, the Oil & Gas industry is unsupported politically at home, and our elected officials mistake our resilience for acceptance of their policy failures. There is a tragic theme to being excessively apologetic in Canada, even for the things we are excellent at. War, energy poverty, systemic inflation and our travels have taught us that the world needs this industry, our skills and good leadership. At Blackstone, we are motivated to export and spread our most useful attributes to the world. What we do is extremely needed, and we feel we do things in a better way.”
Founded in 2002 and branded in 2012, Blackstone is celebrating 10 years of growth with a dynamic strategy with the consolidation of its space in mind. Blackstone is building in Canada, the US, Latin America, sub-Saharan Africa and now the EU, focusing on integrating local highly skilled teams, strong partnerships and global customers. Blackstone fixes and improves dedicated custom equipment in industrial plant applications. Blackstone’s services create security of operations and engineered solutions in facilities that produce petrochemical goods, energy, fertilizer and food. It operates service teams across four continents and will integrate the Roteq team to support Spain, Portugal and the south of France. “We are excited to welcome this talented group into the Blackstone team,” said Blackstone President Allan Schofield. “Consolidating and cultivating these skill sets are critical to further support the energy, fertilizer and chemical industries. We will learn from each other and continue to develop the flourishing Blackstone culture of excellence in technical service and support.”
Alex Fulthorpe, P.Eng, added, “Blackstone is proud to be building the best teams that defend the most critical infrastructure on earth. Our expansion to the EU comes at a time when energy maps are rapidly being redrawn. We intend to keep adding great talent, sharing old-world knowledge and helping in all the ways we know how to keep machines running, customers operating, and populations warm and fed.”