By Scott Wright
AN Aberdeen-based supplier of engineering services to the oil and gas industry has been acquired in a sign of improving confidence in the outlook for the North Sea.
Spirotech Aberdeen, a bulk handling, fabrication and blast containment specialist, has been snapped up by Neil Thomson in tandem with the Garrick Group, an investment vehicle up by sector veterans Ronnie, Douglas and Davie Garrick. It is the first in a series of investments the Garrick brothers, who established by the drilling waste environmental specialist TWMA, hope to conclude amid the improving outlook for the North Sea.
Mr Thomson, who has many years’ experience in research and development, engineering and in managing teams in the global oil and gas sector, becomes the new chief executive of the business, which has been renamed Spiral Services. He will work alongside the existing team, including general manager Kris Hunter.
Mr Thomson said: “I am delighted to have finalised the acquisition of Spirotech Aberdeen and look forward to the growth ahead for the new business Spiral Services. For the Garrick Group and I, it is a fantastic opportunity to work together again and utilise the expertise and industry knowledge we have gained over the past 28 years.”
The Garrick brothers sold TWMA, which specialises in helping oil and gas firms manage the waste products from drilling, to a group of investors, including the family of Sir Brian Souter and private equity firm Buckthorn Partners in 2017. The Garrick Group is focused on supporting growing businesses in the offshore and onshore sectors at board level, particularly firms with export strategies and plans for growth.
Douglas Garrick, who sits on the board of Spiral Services, said: “With Neil driving this exciting opportunity, we are delighted to provide support to a business that has a solid track record while also supporting growth with new product lines focused on equipment and engineering solutions.”
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