Energy services firm Centurion Group has completed the acquisition of Angus-based rental company RMEC for an undisclosed sum.
Billed as a “market leader” in the field of well services, RMEC provides adjacent services to existing Centurion divisions, expanding the Dyce-headquartered company’s product and service footprint.
With a headcount of around 35 employees, RMEC supports clients through the life cycle of their assets.
The acquisition will give private-equity backed Centurion greater access to the decommissioning market on a global scale.
It also further position the group to benefit from the bounce back in oilfield services, the energy decarbonisation drive, the growth in the mineral resources sector and the expansion of renewables.
Fernando Assing, Centurion’s chief executive, said: “We are delighted to have RMEC join the Centurion family. Their reputation for delivering some of the safest and most efficient well services on the market aligns closely with our strategy and values, and as part of the group, they will add tremendous value to our growing global customer base.”
RMEC is Centurion’s third acquisition in 2022 alone, and demonstrates the group’s “ambitious” growth strategy.
In January it was announced that the firm, which is backed by SCF Partners, had snapped up Kintore-based Aleron, a specialised in the design and manufacture of subsea equipment.
It also acquired Canadian firm Polar Septic Systems, a provider of wastewater rentals and treatment solutions.
And in 2021 Centurion took over Middle East-based Specialist Services.
Based at Cotton of Pitkennedy near Forfar, RMEC has been backed since 2014 by private equity and property manager Maven Capital Partners.
Its list of clients includes Baker Huges, Schlumberger, Taqa, CNR International and Well-Safe Solutions.
Bryan Fagan, managing director of RMEC, said: “I am delighted that RMEC is joining Centurion, a group with a reputation for equipment rental and service excellence to the critical industries. As part of Centurion, we look forward to increased global reach our business will have, and serving our customers in the decommissioning industry and beyond with even greater access to safe, efficient, and sustainable equipment solutions.”
Ewan MacKinnon, a partner at Maven Capital Partners, added: “RMEC has been an excellent investment for Maven. The company has a great management team who we have enjoyed working with over the past 8 years. The sale to Centurion is a complementary fit for RMEC with significant opportunities for both businesses to explore. We wish the company well as it embarks on the next stage of its growth.”
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