RBG aqcuired by Stork
Further consolidation has taken placed in the North Sea services sector with the acquisition of Aberdeen-based RBG by asset integrity specialist Stork Technical Services based in The Netherlands.
RBB Limited – with 4,500 employees, is being bought out for an undisclosed sum – but last year earned £300 million in revenue. Stork is ten times bigger, earning €1 billion in revenue in 2010.
The acquisition – which is being made through Stork’s parent Luxco Sarl involves all of RBG’s activities in the North Sea, Europe, and the US, and in the Caspian and in the Middle East.
“RBG is a solid and well-structured business with a history of strong performance,” declared Doug Meikle, chief executive officer of Stork Technical Services. Meikle continued: “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.
Dave Workman, chief executive of RBG described the deal as good news for the company’s global community, saying it is a positive move.
“For a number of years, we have been working hard to develop the business in terms of HSEQ performance, our people strategy, our integrated service offering and our commitment to innovation,” Workman said. “Our efforts have resulted in our business being recognised as a leading support partner committed to building the geographical footprint needed to serve the international energy industry. This deal marks the next stage of our journey, bringing greater opportunities for our employees and significant benefits to our clients through the delivery of an enhanced and unrivalled service capability.”
RBB was formed in 2004 with the merger of Rigblast Group – which included MacGregor Energy Services formed back in1994 – with Mach Ten.
With the acquisition of RBG. Stork inherits responsibility for one of the major decommissioning progrmames currently underway in the UK North Seaat the Brent Delta platform, for which RBG commenced work last year.