By Scott Wright
GLOBAL Energy Group, the company owned by Ross County Football Club chairman Roy MacGregor, has sold one of its biggest businesses to a Houston-based private equity firm.
The Highlands-based energy conglomerate has offloaded Global E&C, which employs around 1,000 people in the Aberdeen area, to SCF Partners for an undisclosed sum.
Aberdeen-based Global E&C provides engineering, procurement, and construction services to the offshore and onshore energy sectors, with aspirations to be at the forefront of moves to decarbonise the energy system. Jobs will not be affected by the deal, which will see Mr MacGregor remain on the Global E&C board for a transition period.
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No details were provided on any windfall Mr MacGregor or fellow shareholders in Global E&C would receive from the sale.
The deal may be seen as a vote of confidence that companies in Scotland are developing the skills needed to ensure the country meets its net-zero targets, as concerns around climate change intensify.
Global E&C has found a new owner amid expectations that major investment will be made in digitalisation, and is confident that SCF will support the company needs in this area.
For SCF, the deal adds a further Scottish-based business to its portfolio, which already includes Hydrasun, Score Group and Centurion, all of which have operations in the Aberdeen and Aberdeenshire areas.
Under its new owner, Global E&C will continue to work alongside Global Energy Group on opportunities across the energy sector, through a long-term strategic alliance.
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Terry Allan, chief executive of Global E&C, described SCF as a “great fit” for the business which will strengthen its ability to support changing energy markets and accelerate its deployment of digital solutions. Mr Allan said: “We have come as long way as a business, and this is an exciting milestone for us as we continue to develop and grow.
“SCF has a proven track record of working with management teams to build lasting companies and it was important for us to find the right partner who understood our culture, our market position.
“SCF is a great fit to support us in the next phase of our development and this investment will reinforce Global E&C’s position as the most digitally enabled EPC contractor in the market.”
A statement said SCF Partners, which is headquartered in Texas and has offices in Aberdeen, Calgary, Singapore, and Adelaide, helps entrepreneurs to build leading energy companies by providing capital and expertise.
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Colin Welsh, partner at SCF, said: “We invested in Global E&C because we believe the team has the energy, the capability, and the data management technology to become a leading player in the decarbonisation of offshore and onshore infrastructure.”
Mr MacGregor established Global Energy Group in 2005 and now includes a host of companies providing specialist services and facilities to the energy sector.
Facilities include an extensive presence at the Port of Nigg in the Moray Firth, which serves a range of customers across the oil and gas and renewables sectors.
Global E&C was created in 2019 as a digitally focused brownfield EPC (engineering, procurement and construction) contractor and, a statement said, “has quickly gained credibility in the market”.
The company is based in Aberdeen and has offices and workshop facilities throughout the UK, employing more than 1,000 people currently supporting brownfield operations across more than 25 offshore assets.
The company was hailed for its “a depth of expertise across survey, engineering, fabrication, construction and commissioning and start-up services”.
“Our delivery model focuses on the efficient execution of brownfield modifications, from simple repair orders through to complex process related modifications,” the statement added.
Mr MacGregor said: “Global E&C is a great business, the team have established themselves in a very competitive market. I am proud to have been part of their journey.”
Global Energy Group said it will retain its other Aberdeen-based energy businesses.
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