Stoner has an annual turnover of $22m and employs 200 people. The company specialises in the development and marketing of commercial, off-the-shelf network simulation-based solutions for the gas, electricity, petroleum and water industries. It is recognised as a market leader in North America, where two-thirds of its approximate 550 clients in the gas, electricity, petroleum and water sectors are located. One or more of its software products is used by 37 of the top 57 North American gas transmission companies and 65 of the top 70 Local Distribution Companies (LDCs). Stoner software is also used by clients in 48 countries outside North America.
The acquisition will allow Advantica to market its products and services to Stoner’s extensive utilities contacts in America and other countries. The deal also represents a step into the largest utility infrastructure in the world for Lattice – owner of Transco, the UK gas network operator.
With 800 employees, Advantica has operating experience in over 30 countries worldwide. It is a leading provider of technology and engineering services to customers in gas, pipelines and associated industries internationally. The acquisition will enable Advantica to grow in the US, targeting gas transmission and distribution companies as well as other utilities with services and solutions to support them in an increasingly competitive environment.
John Bennett, Chief Executive Officer (CEO) of Advantica says: Our aim was to invest in a company of high quality, with a strong market position, good products and high growth potential. Stoner meets these requirements and, with its excellent reputation and strong customer base, the acquisition has a major contribution to make to Advantica’s future success in North America.
Advantica will add breadth and further quality to Stoner’s product range and increase its ability to deliver a range of software and consultancy services. Our intention is to grow Stoner’s business by providing a route into the European utilities markets whilst simultaneously expanding its American business interests.
Joseph R. Kroon, President of Stoner, states: We are excited about the unprecedented range of solutions that the united Advantica and Stoner team can create for users in all of the industries we serve, and by the strong shared corporate culture. Stoner’s clients can rest assured that the good things they have come to expect from Stoner will continue.
