Cavanagh buys Oilplus
Energy entrepreneur swoops on oil and gas firm
Mark Cavanagh, managing director of Crandale Consultants, acquired the business from John Crane, a division of Smiths Group, for an undisclosed value.
Oil Plus plans on adding to its workforce over the next 12 months as it targets double-digit growth and forecasts turnover of £3 million.
Mr Cavanagh has more than 25 years of experience in the oil and gas industry, primarily in project management and the population of asset management systems.
He said: “Oil Plus is a dynamic business that provides specialist services and technology to the oil and gas industry. There is a lot of potential for growth throughout the sector thanks to the skills and knowledge held within the business.
“As the industry becomes accustomed to living with a lower oil price, Oil Plus can play an important role in supporting businesses to work cost-effectively.”
The current management team at Oil Plus remains in place and will continue under the leadership of Kevin Murray as managing director.
He said: “We are excited with the change of ownership and are looking forward to working with Mark and his team who are based in Aberdeen, bringing together expertise and the latest technologies to support the energy sector.”
Oil Plus was founded in 1978 as a joint venture between BP and Plenty Ltd to provide process chemistry and engineering support services for BP’s Forties oilfield.
In 1982, BP sold its shareholding to Plenty’s parent company Booker McConnell. Booker McConnell (re-named as Booker) sold Oil Plus to EIS, purchased several years later by TI Group which was then consolidated with Smiths Industries, now known as Smiths Group.
Photo: Mark Cavanagh (right) who has acquired Oil Plus beside the company’s managing director Kevin Murray