Global Energy Group has sold Aberdeen-based offshore engineering and construction specialist Global E&C to American private equity firm SCF Partners.
Global E&C provides engineering, procurement and construction (EPC) services to the offshore and onshore energy sectors.
It says the deal - whose value is not being disclosed - will allow it to grow into evolving green energy markets and to expand its digital services.
Global Energy Group's founder Roy MacGregor will stay on the board of Global E&C during the transition – and the companies say they will "will continue to partner on opportunities across the energy sector through a long-term strategic alliance."
Global E&C employs more than 1,000 people around the world, with 900 people based in the UK.
Terry Allan, chief executive of Global E&C, said: "We have come a long way as a business, and this is an exciting milestone for us as we continue to develop and grow.
"SCF has a proven track record of working with management teams to build lasting companies and it was important for us to find the right partner who understood our culture, and market position.
"SCF is a great fit to support us in the next phase of our development and this investment will reinforce Global E&C’s position as the most digitally enabled EPC contractor in the market.”
SCF Partners is based in Houston, Texas, with offices in Calgary, Aberdeen, Singapore and Adelaide. It specialises in investments in the energy sector.
Colin Welsh, partner at SCF, said: “We invested in Global E&C because we believe the team has the energy, the capability, and the data management technology to become a leading player in the decarbonisation of offshore and onshore infrastructure.”
Roy MacGregor said: “Global E&C is a great business, the team have established themselves in a very competitive market. I am proud to have been part of their journey.”
Global Energy Group will retain its other Aberdeen-based energy businesses.
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