Clyde Blowers Capital said yesterday it had completed the acquisition of US oil and gas service provider Energy Services International (ESI) for £13million.
The capital fund said the deal for Houston-based ESI included its trading businesses Southern Technology and Services in Louisiana and Vicksburg Marine in Mississippi.
Jim McColl, chairman and chief executive of the Glasgow-based fund, said: “We envisage investing up to another £26million in ESI, and an Aberdeen service centre would be the first move in that investment. The company had a turnover of £13million last year, and we are confident we will increase that to £65million over the next three to five years, with a great opportunity to expand initially into the North Sea and the Middle East.”
The Aberdeen centre is expected to be up and running by the end of the year and will initially employ more than 10 people.
ESI, whose main presence is in the Gulf of Mexico, manufactures and repairs jacking systems and drilling-related equipment for jackup rigs.