Global Energy forms EPC contractor firm following Apollo buy
Global Energy Group has formed a new engineering, procurement, and construction (EPC) contractor through the acquisition of the Apollo Offshore Engineering.
Global Energy formed a new EPC contractor by combining Apollo’s brownfield engineering capability with the company’s Integrity and Construction (ICON) division.
The new UK-based combined business, named Global Engineering and Construction (Global E&C), will have around 900 personnel.
As part of the acquisition, Apollo’s consultancy business will continue to operate under the existing brand and will offer technically led engineering services. Apollo will focus on front-end and through life consultancy across multiple end markets.
The company added that Global E&C would be a standalone entity and be managed separately from the broader Global Energy Group.
Roy MacGregor, GEG’s founder and chairman, said: “Over the years, the legacy ICON division of Global Energy Group has matured into being a recognized construction led contractor within the UKCS, having secured major contracts with several operators.
“However, it has become more apparent recently that in order for us to add enhanced value to our customers, in a continually challenging market, that we need to be able to offer something different.”
Apollo’s managing director Ryan Menzies added: “The investment of Global Energy Group is a significant measure of their confidence in the engineering capability of Apollo. The combined engineering expertise of Apollo and the construction competence of the legacy Global ICON division provides clients with a strong alternative to traditional providers in the brownfield modifications arena under the newly formed Global E&C entity.”
The acquisition of Apollo and the creation of Global E&C comes only days after Global Energy acquired a majority stake in accommodation module provider Aiken Group earlier this week.
Global E&C’s managing director Derek Mitchell said: “[…] this investment is the beginning of our next chapter and we’re all excited about what Global E&C can offer the market. Importantly, Apollo’s values and culture are strongly aligned with ours – this was a particularly important component of why this investment was so attractive.”