Clyde Blowers Capital Buys Energy Services International

Clyde Blowers Capital today (Wed Feb 20) announced the acquisition of American company Energy Services International (ESI) – a provider of specialist products and services to the oil & gas industry.

The $20m (£13m) deal also includes ESI’s trading businesses Southern Technology and Services and Vicksburg Marine.

ESI, which is based in Texas, Mississippi and Louisiana, has a strong presence in the Gulf of Mexico – but Jim McColl, Clyde Blowers Capital chairman and CEO, revealed that a priority for the latest addition to his portfolio would be looking into the setting up of a service centre in Aberdeen.

He said: “ESI has an excellent reputation for service and quality, with industry-leading service levels, and it is ripe for growth. The company had a turnover of $20m (£13m) last year, and we are confident we will increase that to $100m (£65m) over the next three to five years, with a great opportunity to expand initially into the North Sea and the Middle East. Over the period we envisage investing up to another $40m (£26m) in ESI, and the Aberdeen service centre would be the first move in that investment.

“We see great potential to transform it into a global operation by offering an extended range of services to our customers and growing our geographic footprint, both through acquisition and organic growth. We will also export ESI’s capabilities into other key oil & gas regions across the world, including South East Asia and West Africa.”

ESI specialises in manufacturing and repairing jacking systems and drilling-related equipment for jack-up rigs – a type of mobile platform used for exploratory drilling and offshore wind farm service. Its capability also includes repair and refurbishment services for a large range of pumping, lifting and hoisting equipment used on offshore and onshore drilling rigs.

The ESI deal follows on from Clyde Blowers Capital’s acquisition last month of Parsons Peebles Generation – an internationally respected engineering company and market leader in power generation and motors based at Rosyth in Fife. A decision has already been made to set up an Aberdeen service centre for that company, with dozens of jobs being created.

Clyde Blowers Capital portfolio companies now employ 6,500 people worldwide.

[mappress]
February 20, 2013