Mergers & Acquisitions Fluor Completes Stork Takeover
Fluor takes over the remaining shares of Dutch industrial service provider Stork from UK-based private equity firm Arle Capital Partners.
Irving, Texas/USA – 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, and power markets. Founded in 1827, Stork has long-term relationships with a diverse range of customers. It has operations in Continental Europe, the United Kingdom, the Middle East, Asia-Pacific and the Americas.
Stork’s business model is primarily based on ongoing operating budgets that are less impacted by capital spending plans and volatile commodity prices. The addition of Stork’s capabilities to the Fluor portfolio will help meet customers’ needs throughout the full lifecycle of an operating plant.
Stork, along with Fluor’s current Operations & Maintenance organization, will be led by Stork CEO Arnold Steenbakker and reported financially under the Global Services business segment.