Stork Technical Services today announced the acquisition of RBG Limited, the UK based supplier of inspect, assess and repair services to the global energy industry. RBG Limited, which in 2010 had revenues of c.£300m, has been acquired as a strategic addition to Stork Technical Services Holding B.V., a leading knowledge-based asset integrity management company with 2010 revenues of c.€1,000m. The acquisition was made through London Acquisition Luxco Sarl, the ultimate parent of Stork Technical Services. The cost of the acquisition and funding structures are not being disclosed.
The acquisition includes all of RBG’s primary activities in the UK, Europe, Americas, Caspian and the Middle East, as well as 4,500 personnel. The addition of RBG’s portfolio, which includes complex support services such as oil platform decommissioning, fabric maintenance, inspections services and access solutions, will provide Stork Technical Services’ clients with additional expertise and more choice from a single trusted partner. RBG’s clients will gain access to asset integrity management solutions focusing on maintenance, modification and overhaul of existing facilities for the oil & gas, power and chemicals industries.
“The acquisition of RBG is an exciting milestone in the group’s growth strategy, said Sjoerd Vollebregt, Chief Executive Officer of Stork B.V. “Under Doug Meikle’s leadership, Stork Technical Services has built a solid platform for accelerating Stork Technical Services’ growth in key markets. At Stork, we will continue to foster and support the entrepreneurial success story of Stork Technical Services, thereby reinvigorating the historic values that this company was built on.”
“This acquisition is consistent with our strategy to enhance our service offering whilst expanding our global footprint,” said Doug Meikle, Chief Executive Officer of Stork Technical Services. “RBG is a solid and well-structured business with a history of strong performance. RBG’s talented employees and strong client relationships align well with Stork Technical Services’ strategy of partnering with our clients by listening, thinking and doing. We look forward to partnering with operators and primary contractors, and helping them realise safe, consistent, productive asset integrity management.”
RBG’s operations significantly increase Stork Technical Services’ global reach and capabilities. Clients based in the Americas, Europe, the Middle East, Caspian and Asia Pacific, will continue to receive local delivery of integrated services delivered according to uniformly world-class standards.
For further information, see attached file
