The purchase price was approximately US$115.8 million. Fyfe Group, based in San Diego, California, USA, had North American revenues of approximately $45.1 million in 2010.

Fyfe manufactures and installs fibre reinforced plastic (FRP) systems for the repair, strengthening and restoration of pipelines, buildings, bridges and tunnels, and waterfront structures. The company's products include the Tyfo® Fibrwrap® System, a carbon fibre/epoxy product which meets 2009 International Building Code requirements.

Insituform, headquartered in St. Louis, Missouri, USA, provides technologies and services for the corrosion protection of industrial pipelines and for rehabilitating and strengthening piping systems, buildings, bridges and tunnels and waterfront structures. It offers cured-in place pipe (CIPP) and other technologies.

“Fyfe Group’s product and service offering complements Insituform’s existing product and service portfolio, but also expands the markets into which we offer our products and services," explains Joe Burgess, President and CEO of Insituform.

"In addition, we believe that Fyfe Group’s patented and other proprietary technologies distinguish the company from its competitors and allow the company to achieve compelling returns. This acquisition furthers our stated objective of achieving a 15% return by 2012.”

Fyfe Group’s senior management team, including Ed Fyfe and Heath Carr, will remain with the company.

Under the acquisition agreement for the Fyfe North America transaction, Fyfe Group granted Insituform an option until 26 July 2012 to acquire Fyfe’s international operations in Asia, Europe and Latin America at a price to be negotiated. Fyfe Group’s international operations (excluding Canada) had revenues of approximately $20 million in 2010.