Equistone offloads PD&MS to Inflexion

Equistone Partners Europe has exited PD&MS, the fast-growing specialist provider of Engineering, Procurement and Construction (EPC) services for the global oil and gas industry, in a secondary buyout to Inflexion.

Simon Rio, CEO of PD&MS Energy

The mid-market private equity firm has achieved a 2.9x return on total investment after it backed the management buyout in 2010.

Founded in 2002 by its current management team, PD&MS Energy operates in an attractive, growing, niche market and serves the drilling, production and marine sectors. Its core capability is ‘brownfield’ design engineering services, utilising sophisticated project planning and design software tools to service drilling and production operators throughout the oil and gas market.

PD&MS Energy employs more than 200 onshore personnel at locations in Aberdeen, Dundee, Great Yarmouth, Brazil and Baku, Azerbaijan. The company has demonstrated strong growth under Equistone’s ownership and delivered a record turnover of £47m in 2013 and aims to double its business by 2016. It has embedded customer relationships with major blue chip operators such as BP and CNR.

Steve O’Hare, former non-exec at PD&MS and partner at Equistone in Manchester, said: “PD&MS’s performance has been impressive and we’re pleased to have worked with management to grow the business, including establishing an international presence. We are confident that the management team will continue to develop its core services in the drilling, production and marine sectors, while strengthening its market position in global engineering.”

Simon Rio, CEO of PD&MS Energy, said: “Our business is rapidly becoming known for delivering a consistent and robust range of technical services and solutions tailored to our customers’ needs. Equistone has supported us through two rounds of investment, enabling us to strengthen our services and drive growth in both the North Sea and more recently internationally. This has created an excellent platform to build the business further and we look forward to the next stage of growth.”

Press Release, July 15, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply