- Major step in Pipeline Technique’s diversification strategy, immediately entering the infrastructure, nuclear, and decommissioning markets in the UK and Norway.
- Memorandum of Understanding signed to collaborate with Global Energy Group at Invergordon and The Port of Nigg, a strategically located cross-energy sector facility, at the heart of supporting the fast-growing offshore wind industry.
- Pipeline Technique is owned and backed by Bluewater, the specialist energy Private Equity firm.
- Frederic Castrec, CEO of Pipeline Technique, comments: “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.”
Pipeline Technique, the onshore and offshore infrastructure welding, coating and fabrication specialists, can share that it has acquired Global Project Services (GPS) from Global Energy Group (GEG).
GPS is headquartered in Invergordon and has a presence in Bergen, Norway. The company specialises 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 fulfil 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 has had a successful 2021, delivered a 3-fold increase in revenue, and is on track for a further 50% increase this year. Pipeline Technique recently won several significant contracts in the USA, 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.
Frederic Castrec, CEO of PTL, comments: “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.”
“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.”
“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.”
Please note that this acquisition is not related to GPS Group, a Global Petro Storage company that is also backed by Bluewater.