24/06/2013 - 07:42

Scottish firm buys Perth engineering business

24/06/2013 - 07:42


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Scottish firm buys Perth engineering business

Scotland-based energy technology company Proserv has acquired specialist subsea engineering business Velocious, which was established in Perth seven years ago.

Velocious won Business News’ Rising Stars award in 2011, with a strategy that focused on supplying specialist equipment and services for the subsea oil and gas sector.

The company told Business News last year that it had also diversified into the renewable energy field, leading to an increase in staffing to more than 45 positions.

Its new owner said in a statement issued late Friday that “more than 20” Velocious staff would be integrated into the Proserv business, which has 1,900 people around the world.

Proserv already operates a service facility in Malaga.

The Velocious deal comes six months after Proserv bought US company Total Instrumentation & Controls, taking on its 300 staff.

In addition, Proserv also acquired Weatherford’s subsea controls subsidiaries during 2012, adding a further 300 staff to the company.

Velocious is a widely respected business which fits well with Proserv’s ethos of ingenuity and innovation," Proserv chief executive David Lamont said.

“We are always looking to invest in companies which strengthen and diversify our suite of products and services.”

Mr Lamont was recently named Ernst & Young Scotland Entrepreneur of the Year 2013.

Velocious director Brian Matthews said in a statement: “Proserv has grown to become a leading player in the energy sector in recent years. Joining forces with Proserv will allow us to continue growing on a global scale.”



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