Offshore staff
LONDON -- Barclays Private Equity has taken a minority stake in the Wilton Group, a provider of project management services in the UK.
Wilton has three main business units – PD&MS, Wilton Engineering Services, and Universal Coatings – together offering turnkey packages to the offshore and onshore engineering sectors.
PD&MS Energy, based in Aberdeen and Teesside, provides engineering design and technical support for the maintenance and modification of oil and gas assets, mainly in the North Sea. Wilton Engineering, in Middlesbrough, northeast England, specializes in large-scale fabrications and associated services for the subsea, marine, offshore, and other industries. Universal, also in Middlesbrough, supplies surface preparation, coating, and painting services to the offshore, subsea and power industries.
John Walker, director at Barclays in the North, said: “Wilton has considerable potential for organic growth, particularly through its PD&MS business…furthermore, the lack of bank debt as part of this transaction will enable the business to make strategic acquisitions to further improve both service offering and market position.”
Bill Scott, CEO of Wilton Group, said: “BPE’s investment and experience in the sector provide us with a strong platform to further build on our established customer base and broad offering of services. The next stage of the development of the group is to further penetrate the UK sector, and to focus on expanding into a number of overseas markets.”
06/04/2010
