Offshore living quarter and engineering firm Modutec, whose owners are in Inverness, has taken a majority stake in Glasgow-based co-at Marine.
Co-at Marine specialises in marine and offshore HVAC (heating, ventilation and air conditioning) and refrigeration on board ships and offshore structures.
The move for the HVAC services company bolsters Modutec’s HVAC, piping and electrical solutions for the international marine, offshore, renewables and onshore process sectors, with an additional 10 staff based across Scotland.
Modutec managing director Brian Knowles said: “Co-at Marine have joined forces with us in order to bolster our HVAC and refrigeration capability across all our existing regions but especially for our UK, Europe and Africa regions.
“Co-at Marine is already a well-respected name in the market and together with Modutec we feel we can provide our existing clients and new ones alike with a professional offering in this field that complements Modutec’s existing core services of engineering, architectural, piping and electrical.”
Aberdeen operations
Modutec is a provider of repair, conversion and new build of marine and offshore living quarters and technical buildings.
The company has operations in Aberdeen, Abu Dhabi, Bahrain, Baku, Blyth, Dubai, Las Palmas, Qatar and KSA.
Modutec is owned by Inverness-based investment group, Envoy and Partners.
In 2019, Inverness-based Global Energy Group (GEG) split in two with around 40% of its business becoming subsidiaries of Envoy and Partners owned by two of Mr MacGregor’s sons and a Japanese investor.
Iain MacGregor, 40, became managing partner and 50% owner of Envoy while younger brother John MacGregor, 36, and Japanese conglomerate Mitsui each took a 25% stake.
The brothers formed the firm out of 21 companies that were demerged from GEG, and provides products and services to the utility, power, chemical and oilfield sectors.
Recommended for you
