ETPM Invests Locally with the Acquisition of Pirie & Smith Ltd
02 November 2011
Aberdeen-headquartered offshore energy support company ETPM has acquired Pirie & Smith, a local professional firm of marine surveyors and consulting engineers.#
The acquisition will give existing and new clients the opportunity to access a broader service portfolio and also complements the services of ETPM’s existing subsidiary, Nevis-Scott.
Pirie & Smith, established in 1904, has over 100 years’ experience in engineering, ship surveying and vessel valuation work. ETPM was founded in 2007 to provide specialist personnel and project management consultancy to the marine and subsea sectors of the energy industry. In 2010 ETPM formed Nevis-Scott to provide technical and commercial diligence and strategic support services to the subsea-marine investor community.
Chas Clark, director of ETPM, said: "We are delighted to have acquired such an esteemed professional business as Pirie & Smith. Along with Nevis Scott, the enlarged group has an enviable pool of resources with which to provide a portfolio of marine and subsea services to its substantial client base. The acquisition will bring group turnover to around £7M this year.
"We pride ourselves on our key personnel who are widely respected and have a sound knowledge of the industry in which we operate; this ethos is also evident within Pirie & Smith. We believe the three companies complement each other perfectly and we are looking forward to building on the success already experienced.
"The decision to invest locally is based on our confidence in the growth of the UK Offshore and Renewables markets. It is the springboard for our strategic growth plans - we are actively considering further acquisitions and strategic alliances with like-minded SMEs in our niche.”
Ken McRae, managing director of Pirie & Smith, added: "ETPM is a young company, but one which has already made its mark on the marine industry. This is a very exciting time for all of us and we are very much looking forward to the future.”
Pirie & Smith will continue to trade under its own name. Collectively the group will employ a team of 20 onshore and 100 offshore personnel. Additional jobs will be created in Aberdeen and Pirie & Smith are already seeking to employ additional marine surveyors and naval architects.
A member of the International Marine Contractors Association, ETPM is based in Aberdeen’s Quayside.
For further information about ETPM, contact 01224 579 230 or visit www.etpm.co.uk