Energy services firm Global Engineering and Construction (E&C) has expanded by snapping up an Aberdeen-headquartered engineering consultancy.
Global E&C has bought Magma Products, established in 2001, from chairman Paul Rushton and his wife, Helen, for an undisclosed fee.
Magma, which has consistently delivered revenues of between £5 million and £7m in recent years, will continue to trade under its existing brand name and with its current management team.
The company’s Granite City office and 60-strong global workforce will be retained, swelling Global E&C’s overall headcount to just under 1,000.
Global E&C bosses said Magma, which also has bases in Great Yarmouth, Houston and Bucharest, Romania, would continue to provide commissioning and start-up consultancy services to its existing customers.
They also said Magma would become an integral part of Global E&C’s engineering, procurement and construction offering.
Terry Allan, deputy managing director at Global E&C, said: “Magma represents a significant milestone for Global E&C, enhancing our service provision and strengthening our ability to support customers in the execution of brownfield modifications and projects.
“We have worked with the Magma team several times over the years and the technical expertise in the business is first class.
“We are delighted to have Paul Rushton and his team on-board, and are looking forward to working with them over the coming years.”
Mr Allan added that Magma’s ability to support offshore wind assets would help Global E&C realise its “energy transition” objectives.
Mr Rushton said he was “extremely excited” to be joining Global E&C.
He said: “The scale of our combined capabilities allows us offer something different to our customers and we have already started to work on areas to improve typical project interfaces.”
Global E&C has sealed the Magma acquisition almost a year on from its launch.
In March 2019, parent company Global Energy Group (GEG), of Inverness, bought a majority stake in Apollo Offshore Engineering.
The business has won a number of large contracts since then. In September, it clinched a huge deal — understood to be worth more than £100m — to provide brownfield services to Apache in the North Sea.
A month later, Global E&C inked a contract worth an eight-figure sum to carry out construction work on a number UK North Sea platforms and vessels operated by EnQuest.
GEG was set up by Roy MacGregor, its Invergordon-born chairman and majority shareholder, in 2005.