Private-equity backed clean energy group D2Zero has bought up flow measurement consultancy Kelton Engineering, adding further decarbonisation expertise to its 4,000-strong workforce.
Kelton, which is headquartered in Aberdeen and has 12 offices around the world, brings a 25 strong team of consultants into the group.
Kelton had been previously owned by Alderley, a Gloucestershire-based engineering firm which slumped into administration with the loss of hundreds of jobs across a number of its business in July. In its last set of accounts filed before it collapsed, Alderley had reported the loss of UK Export Finance facilities following withdrawal of government support for fossil fuel energy sector businesses overseas. Kelton, although owned by Alderley since 2003, was not in administration.
D2Zero – which is backed by Houston-headquartered SCF Partners – has been focused in acquiring businesses servicing and decarbonising the oil and gas sector while also accelerating the transition to renewable energy.
The group includes Score and Hydrasun – two long-established service businesses – and has revenues of over £500million.
More recently, DTZero has also added companies Fuel Cell Systems, Powerstar and Nexos – formerly known as Global E&C, alongside Hull-based OSL Consulting Engineers, which was acquired in July.
D2Zero said the addition of Kelton will “significantly enhance” the group’s digital capabilities.
Founded in 1991, Kelton’s proprietary technology and software offers real-time monitoring for asset performance and compliance, enabling efficiency improvement and carbon intensity reduction.
Kelton managing director Iain Pirie said: “Over the past 33 years, our team has developed differentiated technology and expertise, and we are excited at the possibilities for the business as part of a group with such a clear focus on accelerating the energy transition.”
Bob Drummond, chief executive of D2Zero, said: “The Kelton team have been helping some of the world’s most sophisticated energy businesses better understand their operations for decades with their precision measurement technology and data analytics.
“Kelton further strengthens our ability to understand and solve the complex decarbonisation challenges that our customers are facing and we look forward to helping the business thrive as part of D2Zero.”
Drummond added the group has a “strong and active pipeline” of opportunities and is looking to complete further acquisitions in the coming months backed by SCF.
He added: “D2Zero was founded on the premise that by bringing leading and complementary decarbonisation technologies together, under a supportive infrastructure and strong leadership, we could significantly accelerate progress and deliver breakthrough innovations for the energy transition.
“SCF’s backing is helping us to grow at pace and we want D2Zero to be a platform that can turbocharge the opportunities for businesses that want to make an impact on the energy transition.”
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