ATR Group announced at the world's largest oil and gas event -- OTC -- that it has added to its growing business with the acquisition of Bridon International Limited's Aberdeen-based lifting services division for an undisclosed sum.
The acquisition adds a new dimension to ATR Group with the introduction of on and offshore inspection and certification services to ensure compliance with the Lifting Operations and Lifting Equipment Regulations (LOLAR). It also significantly expands on ATR's existing range of specialist lifting equipment and accessories, supplied for both rental and sale to the offshore operations and maintenance market.
The deal underlines ATR's ongoing growth strategy which aims to double turnover in the next three years and increase the workforce, through expansion into overseas markets. It follows the group's acquisition of Bridon International's business in Baku, Azerbaijan, last September and subsequent investment of around UK500,000 to develop the lifting services business and introduce the group's hydraulics business in the Caspian.
Speaking during OTC 08, ATR Group director Robert Skidmore said: "This deal marks the next phase in our exciting and ambitious growth strategy to become a key player in the offshore maintenance and operations market. For Aberdeen, this new move will see the expansion of our asset rental fleet, our resource for sourcing and supplying lifting equipment for sale and, significantly, adds an established on and offshore inspection and certification service.
"It will also provide much expanded workshop facilities and 23,000sq ft of warehouse space via Bridon's premises at Denmore Road, Aberdeen, from where the business will continue to operate."
All existing employees in the lifting services business will be retained by ATR and operate under the new name of ATR Lifting Services. The division will be led by Andrew Paterson, an industry professional with more than 10 years experience in oil and gas.
With a turnover in excess of UK18 million and over 100 staff, ATR Group comprises five separate companies which provide a comprehensive range of specialist and certified tools and equipment for rental to the offshore maintenance and operations market, and a supporting range of services and products.
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