UK's energy services company Penspen announced Monday that it has acquired the engineering division of DPS Group. The acquisition, which increases Penspen’s headcount by 10 percent, took place in mid-September, and supports Penspen’s strategic drive to grow the scope of services that it provides to its clients. This acquisition significantly strengthens Penspen’s oil and gas process facilities engineering capability, and brings access to the FPSO (floating production storage and offloading) construction market in Asia Pacific.
The purchase includes all DPS engineering staff based in Singapore and Bristol, whose skills and experience will enable Penspen to support its clients throughout the full life cycle of their oil and gas assets. The DPS Engineering team have an excellent track record in the design of topsides for fixed platforms and FPSOs, as well as for onshore process facilities.
This acquisition comes in the same month that Penspen has rebranded to bring all its existing sub-brands under a new, dynamic Penspen banner. This rebranding coincides with Penspen’s 60th anniversary year, and is aimed at raising the profile of the business, positioning it as one of the world’s leading energy services companies.
Penspen’s Chief Executive Peter O’ Sullivan said:
“This is a very exciting time for Penspen and DPS Engineering. We are confident that our new partnership will appeal to our clients and we look forward to working with them to develop high quality onshore and offshore production facilities for their oil and gas assets.”
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