Energy service firm Penspen said yesterday it had acquired the engineering division of the DPS group of companies.
The value of the deal was not disclosed, but Penspen said it increased its headcount by 10% to more than 1,000 engineers.
It also strengthens London-based Penspen’s oil and gas process facilities engineering capability, and gives the company access to the floating, production, storage and offloading vessel construction market in Asia Pacific.
DPS’s engineering arm employs 86 people in the design of integrated oil and gas production facilities for projects on and offshore.
The wider DPS group is headquartered in Bristol, with overseas offices in Singapore and the US.
Penspen was founded 60 years ago as Spencer and Partners.
Andrew Palmer and Associates is the name by which some of its offshore clients know it in Aberdeen.
The company provides a broad range of services to the energy industry, including engineering, project and asset management, asset integrity, training, software and tools.
It supports clients in more than 100 countries from major office locations including London, Aberdeen, Houston, Abu Dhabi, and Bangkok.
The group’s new acquisition coincides with it rebranding all of its businesses under the Penspen banner.
It said it wanted to raise its profile and position itself as one of the world’s leading energy services companies.
Chief executive Peter O’ Sullivan added: “This is a very exciting time for Penspen and DPS Engineering.
“We are confident that our new partnership will appeal to our clients and we look forward to working with them to develop high quality onshore and offshore production facilities for their oil and gas assets.”
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