Aberdeen’s Glacier Energy Services has bought up a Methil-based non-destructive testing firm in a deal thought to be worth £5million.
Glacier said the purchase of Professional Testing Services (PTS) will add further capability as it grows its suite of technical services to the oil and gas industry.
Glacier was initially formed in 2011 with the buyout of pipeline machining company Roberts and welding service specialist WellClad from MB Aerospace in 2009, with funding from Maven Capital Partners, Simmons Parallel Energy and Clydesdale Bank.
In 2012 it snapped up Newcastle-based Site Machining Services (SMS) and last year also acquired Ross Offshore.
The firm said the addition of PTS will push its annual turnover to more than £25million, with an employee base approaching 200 at its sites across Aberdeen, Glasgow, Newcastle and Fife, as well as in Singapore and Benelux.
PTS, founded in 1981, employs 55 staff. It provides ultrasonic, radiographic, magnetic particle, dye penetrant and visual inspection services.
It has long-standing framework agreements with Burntisland Fabrication (BiFab), SIF Group bv and Smulders Group.
Mark Derry, managing director of Glacier’s Offshore division, says: “Acquiring PTS further enhances our offering and opens up opportunities across sectors, complementing onsite machining and the repair and refurbishment work that we carry out through Roberts, Site Machining Services and Ross Offshore.”
Glacier chairman, Scott Martin, said: “The UKCS continues to hold significant growth potential for us and acquiring PTS brings another complementary service into the group, following on from our acquisition of Ross Offshore and the continued strong performance of our offshore businesses.
“PTS has a high-quality employee base and has invested heavily in training its workforce over the years – they bring huge technical strength to Glacier, matching the capabilities of our other businesses and delivering added value to our clients.
“We continue to pursue buy-and-build opportunities in the marketplace which strengthen our position as a multi-disciplinary service provider, with ongoing investment support from Maven Capital Partners and Simmons Parallel Energy.”
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