GLOBAL Energy Group announced yesterday its second multimillion-pound deal in less than a week.
It is making its first foray into the Australian market with the £13million acquisition of a majority stakein Global Resources Network.
GRN is a labour provider and has around 350 employees on its books and annual turnover of £32.5million.
It services some of the world’s biggest contractors in areas including offshore drilling, construction and maritime industries.
Global operates around the world providing contract services to the oil and gas industry as well as the power generation, petrochemical and renewables sectors.
Just last Thursday, the Scottish group struck a deal to buy the Nigg fabrication yard in the Highlands for a figure understood to be worth more than £10million.
Global, which has head offices in Inverness and Aberdeen, has seen massive expansion since being founded in 2005. Organic growth and acquisitions have led to annual turnover increasing to almost £230million and the group’s worldwide workforce rising to around 4,000 people.
Executive chairman Roy MacGregor has already renamed the north yard as Nigg Energy Park and nearly £10million will now be spent refitting it.
More than 2,000 jobs are expected to be created at the location between now and 2015 – a huge increase on the 150 currently employed there by Global’s engineering and fabrication subsidiary Isleburn. Global said the latest deal satisfied a growing demand among its customers for company representation in Australia, where the head office will be in Perth. The firm said it had been looking for a successful platform company to maximise opportunities in Australia and GRN fitted the bill.
Director Iain MacGregor said: “Global Energy Group has reinforced its resilience by growing sales and earnings in past financial years, in the face of the most challenging economic conditions in recent history.
“Although international economic conditions remain challenging, our continuing development – including our acquisition in Australia – gives us every reason to look to the future with considerable confidence.”