Oilfield engineering and construction company Global E&C has said it has acquired 100% share capital in commissioning specialists Magma.
Global E&C was formed in March 2019, following the majority acquisition of Apollo by Global Energy Group (GEG) and the subsequent amalgamation of GEG’s brownfield EPC business with Apollo’s brownfield modifications engineering team.
"Over the last 12 months Global E&C has evolved into a leading brownfield contractor in the UK North Sea and has invested heavily in the development of core service lines, technologies and digital platforms to support offshore OPEX activities," the company said in a statement on Tuesday.
"The addition of Magma further enhances Global E&C integrated asset lifecycle capability. Magma is an international engineering consultancy and are specialists in the field of Commissioning and Start-Up activities. The combined entity now has an overall workforce of nearly 1,000 personnel," the Global E&C added.
Global E&C Deputy Managing Director, Terry Allan, said: "Magma represents a significant milestone for Global E&C, enhancing our service provision and strengthening our ability to support customers in the execution of brownfield modifications and projects. We have worked with the Magma team several times over the years and the technical expertise in the business is first class.
"Magma also supports our broader Energy Transition objectives, bringing extensive experience in the commissioning and start-up of offshore assets, including supporting offshore wind projects. As we move towards reducing carbon emissions from offshore assets and delivering on Roadmap 2035 Magma will add value to our EPC offering in this space. We are delighted to have Paul Rushton and his team on-board, and are looking forward to working with them over the coming years."
Magma will continue to trade under the same brand name and with the existing management team, operating from its Aberdeen office.
Magma Chairman, Paul Rushton, added: "‘We’re extremely excited to be joining Global E&C at this time, Magma brings extensive technical expertise and track record in commissioning and start-up activities to Global E&C. The scale of our combined capabilities allows us to offer something different to our customers and we have already started to work on areas to improve typical project interfaces"
The financial details of the deal were not disclosed.
