Pipeline Technique has acquired Invergordon-based welding and fabrication business Global Project Services (GPS) from Global Energy Group as it makes good on its plans for expansion.
Formed in 1997, GPS employs around 20 full time staff and 90 contractors, specialising in pre-fabrication, field specialist welding and mechanical works for the infrastructure, nuclear, liquefied natural gas (LNG), and decommissioning sectors.
Headquartered in Invergordon, it has bases in Glasgow, London and a Norwegian location in Bergen.
The deal will see Aberdeenshire-headquartered Pipeline Technique (PTL) take on the business for an undisclosed sum.
It said the acquisition would enable the company to fulfil some of its strategic growth goals and expand operations to offer a broader range of field welding and coating solutions to clients in the UK and internationally.
The deal was supported by the firm’s private equity owner Bluewater, which bought PTL in 2019 from former owner Heerema Marine Contractors.
It also marks continuation of a successful 2021, in which the company delivered a threefold increase in revenue, with signs pointing to a further 50% increase this year.
The firm recently secured several significant contracts in the USA, Kazakhstan and Brazil and has invested in the new state-of-the-art facilities in Aberdeenshire and Houston.
Opened late last year, its new corporate headquarters and qualification facilities in Kintore provide a base for carrying out welding and field joint coating qualifications, personnel training, R&D activities, and house around 100 staff and support personnel.
PTL chief executive Frederic Castrec described GPS as experts, “known and trusted by all the relevant and big players in the sector” and said the company was looking forward to working closely with its management.
“GPS is also targeting significant growth on new-build renewables projects, supporting the development of the UK’s offshore wind strategy with technical partnerships to deliver bespoke in-yard fabrication services. This will, in time, become a vital energy source that improves the UK’s energy security and supplies the country with lower-carbon, cleaner energy,” he added.
Martin Somerville of Bluewater added: “The PTL team, led by Frederic, has delivered a very strong performance in the last 12 months. We are delighted to support the acquisition of GPS, which further accelerates this momentum and expands the market reach of the PTL offering.”
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