Global Energy Group has further expanded its operations in the Cromarty Firth with the acquisition of a leading Invergordon-based towage business.
The energy services and fabrication giant says the acquisition of JP Knight (Caledonian) is of “strategic importance” to its plans for Invergordon and Nigg.
The firm, chaired by Highland entrepreneur Roy MacGregor, declined to reveal the value of the deal, but said the business and its assets fitted well with its growth strategy for existing and potential work in the firth and further afield.
JPKC is a long-established towage business operating within the Cromarty Firth and surrounding North Sea areas across both the energy and maritime sectors.
Global will acquire four harbour tugs and welcome seven full-time office staff to its team as well as full and part-time crew members for the vessels.
JPKC chief executive David Offin will continue in his role at the company, which will trade as Caledonian Towage.
“We are delighted to have concluded the deal with JP Knight (Caledonian) and look forward to welcoming David and the team to the group,” said Global chief executive Iain MacGregor.
“The secured supply of towage within the Cromarty Firth is of particular strategic importance to us as we continue to develop our activities within both Invergordon and Nigg.”
The JPKC acquisition is the latest in a string of purchases by GEG, which in December last year pledged to make further acquisitions after revealing its sales had grown 43% to £358million for the year ending March 2013.
Its earnings before interest, tax and depreciation rose by 104% to £34.5million, from £16.9million in 2011-12. Late last month, the firm snapped up another Invergordon-based firm, Port Services Group.
This followed the multimillion-pound purchase of fabrication firm iFAB from Port Services.
At the time, Mr MacGregor said Global had been attracted to the firm, which had an annual turnover of more than £10million, because of the quality of its premises and workforce.
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