Houston-based firm SCF Partners has acquired Abedeen-based engineering, procurement and construction (EPC) service provider Global E&C, from Global Energy Group for an undisclosed sum.
Global E&C employs more than 1,000 people, with more than 900 people supporting the UK’s offshore and onshore energy sectors.
Global E&C CEO Terry Allan said: "We have come a long way as a business, and this is an exciting milestone for us as we continue to develop and grow. SCF has a proven track record of working with management teams to build lasting companies and it was important for us to find the right partner who understood our culture, and market position.
"SCF is a great fit to support us in the next phase of our development and this investment will reinforce Global E&C’s position as the most digitally enabled EPC contractor in the market.’
Colin Welsh, Partner at SCF, said: “We invested in Global E&C because we believe the team has the energy, the capability, and the data management technology to become a leading player in the decarbonisation of offshore and onshore infrastructure. “
Global Energy Group, Chaired by Roy MacGregor, will retain the company's other Aberdeen based energy businesses.
MacGregor will support Global E&C as a member of the Board through the transition with SCF as well as retaining a long-term strategic alliance which will see Global Energy Group and Global E&C partner on opportunities across the energy sector.
MacGregor said:"Global E&C is a great business, the team have established themselves in a very competitive market and I am proud to have been part of their journey."