IK-Group Buys Online Electronics Limited
IK-Group has acquired, a pipeline communications specialist, Online Electronics Limited (OEL).
The acquisition of OEL, headquartered in Aberdeen, Scotland with Business Units in Houston, Dubai, Singapore and Perth W.A., further strengthens and widens IK`s position within the pipeline sector of the International Oil & Gas industry, the company said in a statement.
This now takes the number of employees in the IK Group closer to 200. The company said, the investment in OEL is expected to create additional jobs in the next twelve months through increased market share driven by Research, Development and Special Engineering Projects. In parallel further strategic acquisitions will be evaluated.
This combination is expected to enhance IK’s Special Project capability and overall significantly increase IK`s market share.
IK-Group will keep the OEL brand and global structure. The main shareholder and current CEO of OEL, Brian Gribble, will remain in the company as an Advisor and Director on the Board.