Energy production technology services company Proserv has completed the acquisition of major engineering player KRG Industries Ltd. Proserv has acquired the entire share capital of UK-based KRG Industries from majority shareholder Torishima Pump Mfg. Co. Ltd, in Japan.
The latest acquisition, which includes integrating all 170 personnel based at KRG’s Coatbridge headquarters in Scotland and its Stockton-on-Tees facility, sees Proserv increase its talent pool to over 2,200 employees with all existing KRG management continuing to run the day-to-day operations as part of the Proserv organisation. This also reinforces Proserv’s position as a leader in the engineering, manufacturing, testing and after-market servicing of specialist and highly-critical subsea equipment.
David Lamont, Proserv’s chief executive officer, said: “…It will be an exciting new partnership that enhances our integrated capabilities and creates significantly more capacity to develop our international business. It will also bring further positive benefits for employees and give them the opportunity to become involved in a broader, more diverse range of projects as well as considerable benefits to our fast-growing portfolio of clients through the delivery of an enhanced service capability.”