Socotherm Group
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Socotherm Group - overview
Established
1975
Location
Andria, Puglia, Italy
Primary Industry
Oil & Gas
About
Socotherm Group specializes in advanced pipe coating solutions, offering products that enhance the durability and functionality of pipelines across various environments, particularly within the oil and gas sectors. Socotherm Group, based in Andria, Italy, was founded in 1975. The company focuses on providing specialized pipe coating solutions. In October 2012, ShawCor Ltd acquired Socotherm Group for approximately CAD 135 million, following the sale of a 50% stake by 4D Global Energy in April 2012.
The company has completed 3 significant deals, with the most recent occurring in October 2012. The founder's details are not specified in the available information. Socotherm specializes in advanced pipe coating solutions, offering proprietary products such as Plastykote, Powderkote, Innerkote, Thermapipe, Wetisokote, and Concretkote. These products are designed to enhance pipeline durability, addressing challenges like corrosion, buoyancy, and thermal insulation.
Their solutions cater to clients in the oil, gas, water, and corrosive fluids industries, particularly in markets across Nigeria, Angola, and Brazil. In 2023, Socotherm reported a revenue of CAD 73,964. 40 mn, with an EBITDA of CAD 2,315,907. The company primarily operates on a B2B revenue model, engaging directly with clients in the oil and gas sector for its specialized coating solutions, facilitating long-term partnerships and stable revenue streams.
Socotherm plans to expand its product portfolio by developing new coating solutions targeted for launch in the upcoming years. The company aims to enter new markets in Africa and South America by 2025, leveraging recent funding from ShawCor Ltd, which acquired a majority stake for CAD 135 million, to finance these initiatives. This funding will support market expansion and product development efforts as Socotherm seeks to increase its global footprint.
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Equipment and Services
Website
http://www.socotherm.com
Company Stage
Acquired
Total Amount Raised
Subscriber access only
Socotherm Group - timeline of key events
Socotherm Group - financials
| Fiscal Year Ended | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 26,292,045 | 48,559,876 | 31,223,603 | 31,149,428 | 11,158,488 | 15,804,839 | 31,861,665 | 3,259,174 | 102,338 | - | - | - |
| % Revenue Growth (YoY) | - | 84.7% | (35.7%) | (0.2%) | (64.2%) | 41.6% | 101.6% | (89.8%) | (96.9%) | - | - | - |
| EBITDA (USD) | 3,249,627 | 8,464,096 | 1,302,743 | (81,115) | (3,029,476) | (7,022,378) | 416,808 | (3,065,067) | (11,728,310) | - | - | - |
| Operating Income (USD) | 1,194,627 | 6,378,096 | (802,940) | (1,878,704) | (4,151,392) | (8,129,808) | (602,833) | (3,952,320) | (12,461,310) | - | - | - |
| Operating Margin | 4.5% | 13.1% | (2.6%) | (6.0%) | (37.2%) | (51.4%) | (1.9%) | (121.3%) | (12176.6%) | - | - | - |
| % EBITDA Margin | 12.4% | 17.4% | 4.2% | (0.3%) | (27.1%) | (44.4%) | 1.3% | (94.0%) | (11460.4%) | - | - | - |
| NET Income (USD) | 2,104,930 | (14,486,394) | (2,608,011) | (7,000,074) | (4,395,783) | (8,384,524) | (1,736,620) | (4,349,132) | (12,965,214) | - | - | - |
| % Net Margin | 8.0% | (29.8%) | (8.4%) | (22.5%) | (39.4%) | (53.1%) | (5.5%) | (133.4%) | (12669.0%) | - | - | - |
Socotherm Group - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Socotherm Group | - | ||||||||
| Secondary Buyout | Completed | Socotherm Group | - | ||||||||
| Restructuring | Completed | Socotherm Group | - |
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Socotherm Group - employee data
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