Fast-growing north-east oilfield services company OEM Group has hit the acqusiition trail for the second time in just over a year.
It said yesterday it had snapped up a business in Great Yarmouth, East Coast Diesel (ECD), for a six-figure sum. The exact value of the deal was undisclosed.
OEM’s latest expansion adds 15 people to its global worforce, taking the total to 80.
It follows the acquisition of troubled north-east firm Uniconn – saving 27 jobs across two sites in Dyce and one at Kinellar – out of administration in a £1 million-plus deal early last year.
OEM, which offers engine services and spares to the global oil and gas and marine industry, with operations in the Middle-east and Australia, said its takeover of EDC cemented an already strong relationship between the two firms as they had previously worked together on projects.
The deal is also expected to further strengthen OEM’s position in the diesel engine repair market, helping it win new orders in Qatar, Azerbaijan, Australia and the United Arab Emirates, while further growing its business in the UK.
Barry Park, founder and managing director, OEM, said: “East Coast built up a solid reputation from their 25 years in the marketplace which brings a wealth of technical knowledge.”
Ownership of ECD, which will keep its name as part of OEM, was previously split between its family founders and local firm Alicat Workboats. Portlethen-based OEM was launched in 2012 to provide a single point of contact for firms needing engine services or spare parts.
