New engineering and technology Texo Group has announced its first acquisition.
The group, which is based in Westhill, near Aberdeen, said yesterday it had acquired Peterhead-based consultancy Navitas Compliance Solutions (NCS) for an undisclosed sum.
NCS was previously owned by managing director James Murphy and employs 12 people.
Mr Murphy and operations director Jamie Murphy – the MD’s son – will continue working for the business, which is being rebranded as Texo Compliance as it becomes an “integral part” of the Texo group of companies.
Texo Group said its maiden acquisition would “continue to build on its established operating base”, with a particular focus on interests in East Africa, while being run from group headquarters in Westhill.
NCS’s global services cover competence assurance, resilience management, skills and behavioural training and nationalisation expertise for clients in industres including oil and gas, renewable-energy, nuclear, rail, marine and construction.
James Murphy said: “Joining Texo Group was an easy decision. Being part of this ambitious engineering and technology group will help us reach heights that we simply could not have achieved on our own.”
The sale of NCS coincided with a visit to the firm by the newly appointed British high commissioner to Mozambique, Ms NneNne Iwuji-Eme.
She was there to discuss the technical and vocational skills training requirements of Mozambique in advance of major liquefied natural gas projects, expected to be worth at least £7.5 billion.
A final investment decision is anticipated next year, and the high commissioner is looking to gauge and leverage commercial opportunities for UK companies.
She said: “I was very excited to see the vast depth of experience by Texo Compliance, the wider Texo Group and their partners.
“The sharing and building of such knowledge and expertise will be crucial to address the long-term opportunities in Mozambique.”
Texo Group’s wealthy backers have an ambition for it to become a leading inspection, engineering, procurement and construction specialist for sectors including oil and gas, clean energy and renewables, marine, nuclear, telecom, utilities and critical civil/infrastructure.