Friday, March 20, 2015

Novinium Acquires UtilX

Auburn, Washinton-based Novinium a provider of technology and services used to rejuvenate power and other cables for utilities, has acquired UtilX, a subsidiary of Willbros Group, Inc.. The deal is worth between $35M to $40M. UtilX offers up technology which uses silicone injection to restore the quality of power cables, which helps utilities fight aging and delay the replacement of underground utility power cab les. Novinium, which is led by Glen Bertini, is the source of the technology used by UtilX. That technology was originally developed at Dow Corning by Bertini.