NorthStone Advisers, a company describing itself as "an energy sector specialist provider of market analysis, growth strategy, and organizational development has this week officially launched in Aberdeen, UK.
Created by a group of industry experts, the firm is led by its founding partner Andrew Reid; former CEO of Westwood UK, who has been active in the energy sector for nearly three decades.
According to NorthStone, the business has been established to support product, service, and financial firms to navigate the rapidly changing and increasingly complex energy landscape; helping them identify market opportunities, develop growth strategies, and introduce operational practices to drive sustainability, longevity, and profitability.
"In an era of disruption, most upstream businesses are being forced to reassess their market positioning as the energy transition gathers pace. The challenge for investors and management teams is how to navigate this environment and position their businesses for long-term success," the newly formed firm said Tuesday.
“Our service offering is differentiated as we combine market, strategic, and organizational capability which allows us to work with our energy sector clients over the longer term to set realistic and deliverable growth plans that increase shareholder value,” said Reid.
The firm is backed by associates Stuart Cochrane and Steve Roberston, in addition to strategic partnerships with best-in-class data providers, digital transformation specialists, and academic institutions.
The team has historically been active in over 300 market and strategy engagements across the world, provided diligence to over $30 billion of investment into oilfield service, midstream, and power generation businesses, while also receiving over 20 independent industry awards recognizing their contribution to the sector, the company said.
NorthStone’s initial focus is servicing the £118 million market opportunity for their service lines in Europe, before continuing a global push. Over the coming months, the company plans to expand the team with further associates and employees to support their growth plans.