Previan Acquires Sensor Networks

Previan announced the acquisition of Sensor Networks, Inc. (SNI), a leading provider of sensing tools and technologies that enable the inspection and remote monitoring of safety-critical components with increased productivity. As a result of the transaction, SNI will officially become part of the Previan Group and will see its NDT solutions powered through the Eddyfi Technologies business unit.

Specifically, all of SNI's people and technologies will be added to Eddyfi Technologies' portfolio. Eddyfi Technologies will be responsible for promoting the Sensor Networks’ brand in major industries where it is well established, including energy, power generation, aerospace, defense, rail, and manufacturing. Within Eddyfi Technologies, SNI's conventional and phased array ultrasonics probes, permanently installed UT corrosion monitoring systems and remote visual inspection (RVI) instruments will be added to the solutions range and complement the offering of high-performance NDT technologies.

"Sensor Networks is a fantastic addition to Previan. There is a great fit between us, as we both value innovation and technological leadership and base it on strong customer intimacy and intricate knowledge of the challenges that plague infrastructure and critical assets worldwide. We are obviously excited to add the SNI solutions to our Eddyfi Technologies unit. Additionally, the high-end SNI expertise to Previan and the potential it should also add to NDT Global was a huge driver in this transaction. NDTG is the technology expert in the in-line inspection (ILI) space. Enhancements to the UT, PAUT, and ART sensing capabilities will further improve NDTG's overall solutions. All in all, I firmly believe that Previan is the perfect homebase for SNI's next phase of life," says Martin Theriault, founder, CEO and chairman of Previan.

Pierre-Hugues Allard, President of Eddyfi Technologies, mentions that "the addition of Sensor Networks is great news that will benefit our respective customers. Leveraging the best UT and PAUT probes, combined with our advanced and renowned instruments and software, without depending on third-party suppliers, will lead to solutions tailored to exact need of our clients. I already expect that new ideas, aimed at better identifying defects and provide integrity assessments will emerge from the synergies created in the coming months, as adding UT sensors to our portfolio will allow us to seize many new opportunities and to fast-track the development of the next solutions that we will introduce to the industry."

Jeff Anderson, President & GM of Sensor Networks, is delighted with the transaction. "We are very proud to join the Previan family! We have found the right partners to propel us to the next stage. Our footprint is very solid in North America, and we have risen up to challenges faced by major customers. Within Eddyfi Technologies, we will have all the network and the team needed to fuel our growth. Furthermore, this transaction is directly in line with what our co-founders, Jim Barshinger and Bruce Pellegrino, had in mind when they channeled leadership and innovation and modernized the way corrosion-monitoring products were made, a decade ago. We are sensing that spirit within Previan and Eddyfi Technologies, and it suits us!", says Mr. Anderson.

Founded in 2014, Sensor Networks, Inc. provides the tools to solve critical asset management challenges. Through reliable technology and high-quality data, they enable safer, more cost-effective operations using standard and customized ultrasonic transducers, remote visual tooling, and remote non-intrusive corrosion monitoring in various applications in the petrochemical, energy, power generation and aerospace industries. The company employs some 100 people, headquartered in State College, Pennsylvania, with satellite offices in Houston, Hong Kong, and Osaka.

CDPQ and Novacap, long-time investors in Previan, participate in this transaction.

For more information, visit www.eddyfitechnologies.com, www.previan.com, www.sensornetworksinc.com, and www.ndt-global.com.