Aberdeen’s PD&MS, an engineering services company, has announced that it has been acquired by RSK Group for an undisclosed sum.
With offices in Aberdeen, Glasgow and Azerbaijan, PD&MS has over 700 employees on its books and works with heavy hitters in the energy industry.
Providing full-life-cycle solutions in consultancy, engineering, procurement, construction, commissioning and decommissioning for the oil and gas sector, PD&MS had an annual turnover in 2022 of £84.1 million.
Following the takeover, the Aberdeen firm will join the more than 200 other companies owned by RSK which employs 12,000 people.
PD&MS boss, Simon Rio, says that RSK is “the perfect home for the business moving forward,” he added that the deal represents a “landmark moment” for the firm.
The chief executive, who will continue working in his position after a decade of leading the firm, said: “Our increased offering as part of the RSK Group will further enhance the scale and impact that we can make to help our growing customer base produce affordable, secure and sustainable energy.”
Last year, PD&MS secured a three-year operations and maintenance contract with Vattenfall to support the developer’s offshore wind portfolio across the UK and Europe.
PD&MS told Energy Voice that “there are no job cuts associated with the acquisition.”
The two firms added: “For both RSK and PD&MS, this acquisition has its foundation in further investment, increased innovation, and growth.”
The acquisition is of ‘major significance’
The Aberdeen-based PD&MS has been operating since 2002 and acquired Synergie Environ and Optimus in 2021 and 2022, respectively.
PD&MS saved 50 jobs when it took over the Aberdeen-based Optimus for an undisclosed sum after it was put into administration by its own bosses.
On RSK’s recent acquisition, group chief executive, Alan Ryder, said: “The company has an exceptional reputation and track record of growth and diversification through periods of market transition.
“With its foundations in oil and gas services, PD&MS is now using its transferrable skills on projects and to build momentum within renewables and low carbon.”
Mr Ryder added: “This acquisition is of major significance for RSK.
“It further emphasises our own growth, presence and reputation within the renewable energy sector and, with many synergies with other RSK businesses, we aim to be able to share expertise and work on an increased international scale.”
The sustainable solutions group’s annual turnover at the end of 2022 was reported to be £796 million.
This year, RSK has also acquired We Are Brandnew, the CX Group, Calibrate Energy Engineering, 1stinrail, ARA Architecture, Axis, The Woodhouse Partnership, Crowders Nurseries and HPD Consultants.