A company majority-owned by Simmons & Company International’s private equity fund has acquired Aberdeenshire firm Sengs Subsea Engineering Solutions (SengS).
SengS managing director and founder Murray Kerr will retain his role at the Ellon company following its takeover by Pryme Group, a Dundee-based business that offers services for contract manufacturing.
Simmons’ private equity fund was established in 2008 to support the growth of small to medium-sized energy service businesses and has £160million under management.
Mr Kerr said: “Partnering with Pryme will allow SengS to continue to grow through expanding its capability offering for its current customers and providing access to new customers and sectors.
“I look forward working with the Pryme management team and board as we continue to grow the group.”
Pryme chairman Lawrence Ross said: “We have been impressed by the drive and ambition of Murray Kerr. In a short space of time he has grown SengS into a successful subsea engineering and testing company with a reputation for ‘can do’ solutions for customers.
“SengS is responsive, cost competitive and creative. Exactly what the oil and gas industry needs as it continues to manage the cost curve downwards. We look forward to working with Murray and his team as part of Pryme Group.”