THREE60 Energy acquires Pryme Group and Flexlife
Scottish energy services company THREE60 Energy is a leading independent energy services company providing complete asset life cycle expertise to the offshore energy industry.
The company has acquired Pryme Group and Flexlife to create a £200 million industrially diversified global business with huge growth potential.
“This is a really exciting time for everyone involved as we bring together the combined 50-year heritage of THREE60, Pryme Group and Flexlife to offer our customers innovative energy transition, engineering, operations, and project management solutions across the asset lifecycle,” says Walter Thain, CEO of THREE60 Energy.
Solutions specialist Pryme Group was founded in 2014 and offers high-quality design, engineering and project management, as well as proprietary product lines, systems and lifecycle service support, from 11 UK sites.
Flexlife is a specialist provider of lifecycle management solutions for flexible pipes and umbilicals in the oil, gas and offshore wind sectors, and broadens THREE60’s capabilities in subsea engineering, inspection and maintenance.
“This acquisition is truly transformative, not only for our customers’ operations, but also for our people,” says Kerrie Murray, formerly CEO of Pryme Group, now CFO of THREE60.
“Together, we can leverage our technology solutions across the group, new sectors and geographies, to unlock opportunities and add value.”
Growth potential acceleration
With developmental technology at its core, THREE60 Energy supports the development and decarbonisation of traditional industries as well as delivering energy transition solutions.
The combined group will deliver innovative engineering, operations, and project management solutions across the asset lifecycle, from design through to decommissioning, from its headquarters in Aberdeen, Scotland, and its now 1,000-strong workforce worldwide. Its enlarged offering spans multiple sectors including oil and gas, onshore and offshore wind, carbon capture and storage, geothermal, nuclear, marine, defence and industrials.
“Our continued focus on oil and gas, nuclear, onshore and offshore wind, combined with our growing expertise in carbon capture and storage, hydrogen and geothermal, uniquely positions us as a trusted partner to support our customers across the integrated energy mix,” Thain comments.
“We’ve created a £200 million group with the scale and capability to drive future growth, organically and through acquisitions. Our strong relationships, geographical reach and a unique portfolio of proprietary digital technologies, creates an inclusive and exciting future for everyone at THREE60.”
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