Aberdeen company DW Technology Services has changed hands in a seven-figure deal.
It has been bought by business-technology firm Amor Group, whose main offices are in Aberdeen and Glasgow.
Amor, which had financial support from Clydesdale Bank for the deal, said the acquisition would strengthen its offering to the energy sector and pave the way for continued international growth.
More buys by Amor could also follow.
DW’s 25 staff are joining Amor, while former owners Brian Docherty and Kevin Wright will be in Amor’s management team.
More than half of Amor’s revenue comes from the energy sector and this acquisition is seen as key to its aim of doubling turnover to £60million by 2012. DW had annual turnover of £1.8million and a long track record in the energy sector, with a presence in key oil and gas hubs.
Amor chief executive John Innes said the acquisition would enhance the breadth and international capability of the group.
He added: “This is a major step forward for us as we continue to expand globally. DW is unique in its offering, market expertise and international coverage and the acquisition was a strategic decision that will increase Amor Group’s international footprint and strengthens our managed services capability in all major oil locations.
“DW customers will continue to work with the same people as before, but will have access to the extended specialist expertise we can offer, while our customers will greatly benefit from enhanced global reach and knowledge. The acquisition also broadens our managed services capability and expertise in ICT (information and communication technology) supply-chain management.”
Mr Docherty said: “We are looking forward to the next stage of growth generated from the combined strength of our businesses.”
Amor said it was continuing to seek further strategic acquisitions in its key markets across the transport, public and energy sectors.
Graeme Sands, director of corporate and structured finance at Clydesdale, said: “Clydesdale Bank has been proud to support the group and its management team as it continues with its growth objectives and we look forward to continuing to work with John Innes and his team to help realise those aspirations.”
Amor has more than 400 staff across its offices in Aberdeen, Edinburgh, Glasgow, Coventry and Houston.
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