Three60 Energy swoops on Pryme and Flexlife
Offshore energy industry services firm Three60 Energy has acquired Pryme Group and Flexlife to create a £200 million industrially diversified global business with about 1,000 employees.
Pryme Group has grown through mergers and acquisitions into an engineered solutions business with a headcount of about 360 across 11 UK sites. It consists of five businesses: Caley Ocean Systems, Hydratron GA Engineering, IMES, and SengS.
Flexlife is a specialist provider of lifecycle management solutions for flexible pipes and umbilicals in the oil, gas, and offshore wind sectors. Flexlife broadens THREE60’s capabilities in subsea engineering, inspection, and maintenance.
Aberdeen-based Three60 Energy said that the combined group would deliver innovative engineering, operations, and project management solutions across the asset lifecycle, from design through to decommissioning.
Its enlarged offering spans multiple sectors, including oil and gas, onshore and offshore wind, carbon capture and storage, geothermal, nuclear, marine, defence, and industrials.
Three60 Energy said: “Building on its integrated capabilities in subsurface, wells, engineering, construction, and operations, the acquisition enables Three60 to build on its existing strong customer relationships while expanding in a range of sectors in the UK, Europe, US, South America and Asia.”
Kerrie Murray, former CEO of Pryme Group, said: “We feel we are very complementary to the Three60 Energy business.
“It is so exciting to join Three60 at this time. The bigger group, the scale, the geogpahies and the next step in the energy transition… it is just fantastic timing for everyone in the group.”
Financial details of the deal were not disclosed.