Altor Risk Group has been bought by a Middle Eastern rival.
Dubai-based Stirling Group announced on Sunday night that it had bought Aberdeen’s Altor for an undisclosed sum.
The firm said yesterday that the merger would allow it to become “a major new force” in global health, safety, security, environment and risk management.
The deal brings together both companies’ international expertise and a total of more than 100 specialists.
Together the firms will generate revenues exceeding £23million in 2014.
Stirling Group is a market leader in health, safety, security and environment services and consultancy to the oil and gas industry globally.
“This is an exciting development for both companies who share the common vision of becoming industry leaders in protecting organisations operating in hazardous environments by managing risk and ensuring they can work safely and securely anywhere in the world,” said Angus Neil, managing director of Stirling Group.
“As we celebrate our twentieth anniversary, this deal brings together our complementary offerings to deliver enhanced risk, HSE and emergency response services that provide peace of mind to clients.”
Set up by Jim Walker, Altor Risk Group provides five service divisions in managing major accident hazards covering risk and process safety, emergency response and crisis management, security, business continuity and environmental services.
“In the past four years we have grown significantly, demonstrating the high global demand for an integrated approach to risk management and specialist emergency response services,” Walker said.
“Altor was founded on the principle of bringing together people with extraordinary experience in managing risk in the energy industry and by joining forces with Stirling Group, we can bring even more value to our clients with superior consultancy services and products, training and response services across the globe.”
