Global Energy Group's latest hook-up 'a great fit' for business as firm targets oil and gas recovery
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GLOBAL Energy Group is eyeing what it sees as a recovery in the North Sea oil and gas industry in its latest business hook-up.
The Inverness-based firm, which is a major employer in Ross-shire, is joining forces with Aberdeen-based 3rd Momentum Ltd.
Global has secured a deal with 3rd Momentum that will combine their inspection, wire rope and hydraulic hose businesses, with the aim of creating a best in class services group that will be focussed on global expansion and will enhance the two businesses' capabilities and place in the market.
The newly formed combined venture, Rig Surveys Group Limited, will be jointly owned by Global Energy (Holdings) Ltd and 3rd Momentum Ltd.
The new business will have a combined turnover in excess of £12 million and a workforce of nearly 100.
It will be led by Russell Ritchie, who previously sold Reel Group to Global Energy over 10 years ago.
Mr Ritchie commented: “Both businesses are aligned, they are people focused both in terms of our staff and our clients and the fit is perfect, the confidence, trust and enthusiasm we have for the market is shared.”
Global Energy Group founder and chairman Roy MacGregor added: “The combination of these businesses together with the expertise that its people bring will provide our clients with the smart solutions and added value they require.
"Momentum’s passion for great service and customer focus is a great fit for the Global Energy Group culture and I look forward to what the future holds for the new business.”
