Glacier Energy Buys Testing and Inspection Services Company PTS
Glacier Energy Services has confirmed its fifth acquisition with the multi-million pound purchase of Professional Testing Services (PTS), the provider of non-destructive testing and inspection services to the oil and gas and offshore renewable sectors.
Headquartered in Aberdeen, Glacier’s Offshore division provides specialist technical services in support of inspection, repair and maintenance activities on existing assets, and in new-build capital projects in offshore exploration and production.
Glacier has achieved significant growth through targeted acquisition, and provides a series of related, integrated technical services to the energy industry, responding to rising demand in all areas of the UKCS North Sea, as well as in South East Asia.
The division already contains industry-leading pipe-cutting equipment manufacturer Roberts Pipeline Machining, specialist onsite machining service provider Site Machining Services and the recently acquired Ross Offshore, a leader in heat exchanger repair and refurbishment.
Acquiring PTS adds further capability to its portfolio and pushes the group’s annual turnover to more than £25million, with an employee base approaching 200 at its sites across Aberdeen, Glasgow, Newcastle and Fife, as well as in Singapore and Benelux.
PTS, founded in 1981, provides ultrasonic, radiographic, magnetic particle, dye penetrant and visual inspection services, which are vital to ensuring the initial and ongoing integrity of offshore oil and gas and renewable assets, while minimising disruption to production activities.
It has significant experience in the asset construction marketplace, with long-standing framework agreements with Burntisland Fabrication (BiFab), SIF Group bv and Smulders Group. End users of assets PTS has worked on include Shell, Chevron, BP, Marathon Oil, Britannia, Seapower, Vattenfall and E.On.
Mark Derry, managing director of Glacier’s Offshore division, says: “Acquiring PTS further enhances our offering and opens up opportunities across the sectors, complementing our onsite machining and the repair and refurbishment work that we carry out through Roberts, Site Machining Services and Ross Offshore.
“PTS has some of the best-qualified resource in NDT in the North Sea – its inspectors are qualified to Level 2 as a minimum, and the company also has a significant number of Level 3 qualified personnel enabling it to provide a comprehensive range of services including consultancy to its clients.”
PTS NDT services are predominantly used on new build fabrication and assembly projects for the oil and gas and renewable sectors and the techniques employed are equally important in in-service repair and maintenance situations.
Tom Shields, operations director at PTS, who remains in post following the acquisition, said: “There is a key synergy between our work and the wider service offering at Glacier – the ability to provide our NDT experience and expertise in tandem with the group’s other businesses brings significant value to the market and our client base.
“Expanding our operations as part of the Glacier group will offer us opportunities to diversify into new work areas and markets, giving us a platform for real growth.”
Glacier chairman, Scott Martin, said: “The UKCS continues to hold significant growth potential for us and acquiring PTS brings another complementary service into the group, following on from our acquisition of Ross Offshore and the continued strong performance of our offshore businesses.
“PTS has a high quality employee base and has invested heavily in training its workforce over the years – they bring huge technical strength to Glacier, matching the capabilities of our other businesses and delivering added value to our clients.
“New build and existing assets require ongoing support from the supply chain and PTS, like all of our businesses, delivers specialist capability in an area of continually-rising demand in E&P and renewables, fabric maintenance and integrity.
“We continue to pursue buy-and-build opportunities in the marketplace which strengthen our position as a multi-disciplinary service provider, with ongoing investment support from Maven Capital Partners and Simmons Parallel Energy.”
Press release, March 5, 2014; Image: Glacier Energy Services