Global Energy Group has continued its diversification strategy with the acquisition of a metals specialist in the nuclear industry.
The Inverness and Aberdeen-based energy service firm snapped up Langfields, a nickel alloy and titanium fabrication business that also serves the pharmaceutical, chemical, offshore, marine and defence industries.
The Salford-based firm, wholly owned by Robert Dean, 60, has a pedigree dating back to 1908 when it was involved in the production of mild steel, copper and brass components.
Iain MacGregor, Global’s chief executive, said the deal “brings us into more non-oil and gas work, specifically nuclear”.
He added: “I think it’s important for companies in the oilfield services sector to diversify their risks in the current climate. This is why both of our last two acquisitions have been non oil and gas.”
Langfields will be part of Global’s manufacturing subsidiary, Isleburn. The deal comes after the group, which is currently embroiled with a dispute with port owners at its base at Nigg, snapped up Fife-based chemical technology company PSI.
Last year Global also bought up A&B Welding, Vertech (Australia) as well as Invergordon-based towage business JP Knight (Caledonian) and Port Services Group in the same region.
Gordon Ronaldson, Executive Vice President of Global’s process & equipment business, said the deal strengthened the firm’s capability and will help it establish a critical presence within the UK nuclear sector.
He said: “With over 100 years of experience in exotic materials manufacturing, Langfields joins with a long established reputation for quality and delivery to the highest standards.
“At a time when major new UK nuclear projects are getting underway, the addition of Langfields gives Global a strategic base within the heart of the UK industry and a range of skills which are highly complementary to our existing nuclear business and that in other sectors.”
Mr Dean, who in addition to being the firm’s sole shareholder is also Langfields’ managing director, will continue with the company, Global said.
He said: “Over the years Langfields has come to be recognised as one of the premier specialist fabricators in the UK. I am delighted that in Global we have found a partner that shares our commitment to quality and delivery and gives us access to resources and facilities that will expand our capability and capacity.”
In Invergordon, Global has applied to the Scottish Government for harbour status to pave the way for a major expansion at its Nigg base in Easter Ross.
The move has infuriated the long-established Cromarty Firth Port Authority (CFPA), which has argued the proposal is “unlawful” and has urged ministers to reject the Harbour Revision Order (HRO) request.
In 2011 Global completed the purchase of the former North Sea Oil fabrication facility at Nigg, on the Cromarty Firth.
In 2012, Japanese conglomerate Mitsui & Co bought a 25% stake in Global, with the MacGregor family retaining the remaining shares.
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