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New deals for Plexus and Braveheart

Plexus Holdings, the AIM quoted oil and gas engineering services business, has signed a four year framework agreement with Centrica Norway

It will supply Centrica with surface wellhead and mudline equipment services for jack up exploration wells of all pressure ratings in the Norwegian sector of the North Sea.   

Plexus’ CEO Ben Van Bilderbeek said, “To secure a framework agreement with a longstanding customer is in our view testament to the excellent track record we have built up over the years, particularly in the North Sea as a supplier of best in class wellhead equipment to a roster of blue chip operators, including Centrica.  

“While the Agreement is specifically for supplying exploration wells in the Norwegian North Sea, we are confident that we can use this as a platform from which we can tender for future business with Centrica in other geographies and in other markets such as production and subsea.”

Braveheart acquisition

Scottish investment company Braveheart has acquired a 47% holding in Gyrometric Systems, which has developed a patent protected system of hardware and software to monitor the vibrations in rotating shafts. The company is a spin out from Nottingham Trent University.

Braveheart’s wholly-owned subsidiary, Viking Fund Managers has been awarded £2 million to invest through the existing Finance Yorkshire Equity Fund contract.

Viking was not successful in winning a fund management contract for the initial phase of the new Northern Powerhouse Investment Fund initiative, however it continues to work with a number of third parties with a view to gaining new fund management contracts.

 



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