17/10/2012 - 13:04

Scottish group snaps up Vertech

17/10/2012 - 13:04

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Scottish group snaps up Vertech

Scotland-based oil and gas services firm Global Energy Group has announced the acquisition of Perth-based energy sector access, inspection and maintenance company Vertech Group.

Vertech Group was established four years ago, and has grown its turnover to $10 million annually in that time.

The company will retain its local management team and 20 per cent ownership, GEG said.

Commercial terms of the transaction were not disclosed.

GEG said Vertech had many clients locally that it had built international relationships with giving the companies the ability to provide a wider range of specialist services to the offshore gas sector.

GEG employs more than 4,500 staff across 12 countries with 2012 turnover expected to exceed $500 million.

Vertech’s Denis Belliveau said there would be a wide range of opportunities created by GEG’s acquisition.

“We can now fully broaden our horizons and offer a fuller range of services to our clients,” Mr Bellievau said.

“We are able to do this without compromising the excellent culture we have built within the business, our quality of service provided to our customers or our integrity,

“It is a win-win situation and it makes our future unlimited.”

Vertech will be rebranded to tie-in with GEG’s international brand.

GEG Asia Pacific was advised by Alex Sceales of Sceales & Co, and Vertech was advised by Robyn Chew of Chew & Mathews.

 

 

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