Aberdeen-based offshore energy industry services firm Three60 Energy said Wednesday it had acquired Pryme Group and Flexlife "to create a £200 million industrially diversified global business with huge growth potential."
Founded in 2014, Pryme Group has grown through mergers and acquisitions into an engineered solutions business with a headcount of over 360 across 11 UK sites. Pryme Group brings design, engineering, and project management, as well as proprietary product lines, systems and lifecycle service support.
Pryme Group consists of five complementary businesses: Caley Ocean Systems, Hydratron GA Engineering, IMES, and SengS.
Flexlife is a specialist provider of lifecycle management solutions for flexible pipes and umbilicals in the oil, gas, and offshore wind sectors. Flexlife broadens THREE60’s capabilities in subsea engineering, inspection, and maintenance.
Three60 Energy said that the combined group would deliver innovative engineering, operations, and project management solutions across the asset lifecycle, from design through to decommissioning.
Three60 Energy now has a 1,000-strong workforce worldwide. Its enlarged offering spans multiple sectors, including oil and gas, onshore and offshore wind, carbon capture and storage, geothermal, nuclear, marine, defense, and industrials.
"Building on its integrated capabilities in subsurface, wells, engineering, construction, and operations, the acquisition enables Three60 to build on its existing strong customer relationships while expanding in a range of sectors in the UK, Europe, US, South America and Asia," Three60 Energy said.
Three60 Energy did not share the financial details of the deals.