Welding, coating and fabrication firm Pipeline Technique has acquired rival company Global Project Services (GPS) from Global Energy Group.
GPS is headquartered in Invergordon and has a presence in Bergen, Norway. It specialises in pre-fabrication, field specialist welding and mechanical works for the infrastructure, nuclear, gas, hook-up and decommissioning sectors.
The acquisition should enable Aberdeenshire-based Pipeline Technique to fulfil some of its strategic growth goals and, through sector diversification and geographic expansion, provide a broader range of field welding and coating solutions to clients.
The deal comes on the back of a three-fold increase in revenue for Pipeline Technique, with expectations of a further 50% increase this year. The company recently won several contracts in the US, Kazakhstan and Brazil and has invested in the new facilities in Aberdeen and Houston.
Pipeline Technique is backed by specialist energy private equity firm Bluewater, which supported the acquisition.
Frederic Castrec, chief executive of Pipeline Technique, said the deal allows the business to enter new markets straight away.
“GPS is an expert company with a 25-year history of delivering key services on complex, but essential projects, so we’re really looking forward to working closely with GPS management moving forward.
“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.”
Founded in 1998, Pipeline Technique is a provider of welding, field joint coating and spoolbase fabrication services to the energy industries.
Bluewater acquired the Kintore-based company in May 2019 and has since been supporting the company’s growth plan.
This acquisition is not related to GPS Group, a Global Petro Storage company, that is also backed by Bluewater.
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