Boreas Acquisition Boosts Atkins' Oil & Gas Business

Atkins, Europe’s largest multidisciplinary consultancy, said that it has further strengthened its position in the oil and gas sector with the acquisition of Boreas Consultants Ltd for an enterprise value of £3.8 million.

Boreas specializes in subsea engineering of oil & gas facilities and employs approximately 35 staff with offices in Aberdeen, Cranfield, Newcastle and Weybridge.

Boreas has a track record of developing innovative solutions to the challenges faced by the subsea industry - examples of which are leadership of various Joint Industry Projects in areas such as pipe buckling and the development of a number of patented technologies in the area of corrosion protection.

Martin Grant, managing director of Atkins’ oil and gas business, says: “Boreas has an outstanding reputation in subsea engineering and we are delighted to welcome the team on board. They will play a vital part in broadening our technology footprint and in aiding our international expansion plans."

“In the coming years an increasing proportion of oil industry spend will relate to subsea facilities. There are considerable opportunities for our expanded group to offer our clients integrated solutions with a subsea element. Additionally, we see great potential in developing our existing strong position in integrity management of structures to encompass subsea facilities, giving us a complete portfolio of services. Strong oil prices have led to a significant increase in demand for integrity management services as companies seek to extend the lives of their production assets.”

Stephen Booth, one of the four founders and the managing director of Boreas, adds: “This is a great opportunity to increase the impact of the skills and technology that we have within Boreas. We are confident that this move will create the right environment for our staff to continue to flourish.”

Atkins will integrate Boreas into its existing oil & gas business, increasing its number of employees to approximately 280 people. Atkins has been active in the oil and gas industry since 1975 and is one of the leading independent suppliers of engineering and specialist services to the industry. In March 2006, Atkins acquired MSL Engineering, an oil & gas company specialising in integrity management with bases in Surrey and Houston, Texas.

Related Companies
 Company: WS Atkins plcmore info
 - Boreas Acquisition Boosts Atkins' Oil & Gas Business (Jan 9)
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 - Boreas Acquisition Boosts Atkins' Oil & Gas Business (Jan 9)

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