Pipeline Technique (PTL), a leading provider of infrastructure welding, coating and fabrication services, has acquired Global Project Services (GPS), infrastructure, nuclear and decommissioning welding specialists, from Global Energy Group (GEG).
Headquartered in Invergordon and with a presence in Bergen, Norway, GPS is a leading welding subcontractor across the UK and Europe, providing pre-fabrication, field specialist welding and mechanical works for the infrastructure, nuclear, LNG, hook-up, and decommissioning sectors.
The acquisition sees PTL immediately entering the infrastructure, nuclear, and decommissioning markets in the UK and Norway, ans supports the company’s strategic growth goals through sector diversification and geographic expansion and providing a broader range of advanced field welding and coating solutions to clients in the UK and internationally.
PTL has had a successful 2021, delivered a 3-fold increase in revenue and is on track for a further 50% increase this year. The company has also 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.
Frederic Castrec, CEO of PTL, said “We are pleased to announce a strategic acquisition that immediately delivers on our diversification path and allows us to enter new markets straight away. GPS has a 25-year history of delivering key services on complex but essential projects and we look forward to working with the GPS management team.
“In addition, we have signed a memorandum of understanding to collaborate with Global Energy Group at the Port of Nigg, a strategically located cross-energy sector facility at the heart of supporting the fast-growing offshore wind industry.”
PTL is backed by specialist energy Private Equity firm Bluewater, who have supported 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.”