ABERDEEN-BASED investment firm Garrick Group has acquired north-east drilling repair company MRDS for an undisclosed sum.

MRDS, which specialises in project management, inspection, repair and overhaul of oilfield drilling equipment both on and offshore, will continue to operate from its premises in Altens, Aberdeen, whilst also retaining the current workforce.

The organisation has grown year on year since launching in 2015, building a strong customer base and moving to larger premises in 2017.

The acquisition by Garrick Group will help sustain the company’s position and enable it to grow into new markets including renewables and decommissioning. Mark Robertson, MRDS founder, continues to support the business and has been retained in a technical consultancy role.

READ MORE: Investors swoop for Aberdeen oil sector specialist

Ronnie Garrick, leading the deal on behalf of Garrick Group and taking on the role of executive chairman at MRDS, said it has “built up an impressive reputation in the oil and gas industry for its drilling repair services and is a solid platform for the business to grow into global markets which is where we aim to take it”.

He said: “The company has continued to thrive through the pandemic which is testament to its loyal customer base and impressive track record and we look forward to working with the team.”

Mr Robertson said: “The acquisition comes at a time as we move into more international work and I want the company to continue to thrive.

"During the pandemic we have managed to sustain work and have had our workshops working to capacity, so we are in a position where the company has to continue to grow to its full potential.”