Pipeline Technique, the onshore and offshore infrastructure welding, coating, and fabrication specialists, has acquired Global Project Services (GPS) from Global Energy Group (GEG), the company said.
GPS is headquartered in Invergordon and has a presence in Bergen, Norway. The company specializes in pre-fabrication, field specialist welding and mechanical works for the infrastructure, nuclear, LNG, hook-up, and decommissioning sectors. GPS is also the UK’s and European’s leading field specialist welding subcontractor.
The acquisition will enable Pipeline Technique to fulfill some of its strategic growth goals and, through sector diversification and geographic expansion, provide a broader range of advanced field welding and coating solutions to clients in the UK and internationally.
Pipeline Technique successfully delivered a 3-fold increase in revenue in 2021 and is on track for a further 50 percent increase this year. The company recently won several significant contracts in the US, Kazakhstan and Brazil and has invested in the new state-of-the-art facilities in Aberdeen and Houston.
Pipeline Technique is backed by specialist energy private equity firm Bluewater, who have supported the acquisition.
“Pipeline Technique is pleased to announce a strategic acquisition that immediately delivers on our diversification path and allows us to enter new markets straight away,” Frederic Castrec, CEO of PTL, said.
“GPS is an expert company with a 25-year history of delivering key services on complex but essential projects. It is known and trusted by all the relevant and big players in the sector, and we’re really looking forward to working closely with GPS management moving forward.”
Castrec continued: “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.”
Supporting the acquisition, Martin Somerville of Bluewater, said: “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.”
For more information visit www.pipeline-technique.com
