Cape Buys Engineering Contractor Motherwell Bridge

UK-based industrial services firm Cape has acquired Scottish engineering contractor Motherwell Bridge in a $63-million deal.

Cape said the acquisition will provide Lanarkshire-based Motherwell with the resources to significantly grow its business by allowing it to take on larger projects in overseas markets and increase its service offering. Motherwell, which employs around 300 people, is a leading provider of storage tanks, gasholders and heat exchangers in the energy and steel markets.

Motherwell will retain its management team, Cape added.

Motherwell Chief Executive Russell Ward commented in a company statement:

"This is an excellent deal for Motherwell Bridge. While the business has achieved good growth over the past few years, Cape's significant resources and footprint will help accelerate and realize our growth plans in the UK and overseas.

"There is no doubt that having the backing of a leading industry player in the form of Cape will signal a major transformation of the company."

Cape CEO Joe Oatley added: 

"The acquisition of Motherwell Bridge is in line with Cape's strategy to broaden our portfolio of essential critical industrial services.

"Cape is now able to provide its clients with a complete tank maintenance solution. Motherwell Bridge has tremendous expertise, reputation and brand recognition in the oil and gas storage tank market, including a market leading position in the UK and we expect to accelerate Motherwell Bridge’s overseas growth through Cape’s international footprint."

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Substation Field Engineering Intern Job
Expertise: Field Development|Field Service Tech|Student / Recent Grad
Location: Littlefield, TX
HR Advisor
Expertise: Cementing|HR - General
Location: Mt Braddock, PA
HR Advisor
Expertise: HR - General|Well Control
Location: Punxsutawney, PA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours