Stork Technical Services and the private equity consortium Arle acquire British RBG Group, offering significant growth potential for Stork.
RBG offers inspection, assessment and repair services to the global energy industry and posted revenues of more than £300 million in 2010. This acquisition is a strategic and complementary one for Stork. All 4,500 employees will be retained. The acquisition includes all of RBG’s primary activities in the United Kingdom, Europe, North and South American, Caspian Sea Region and Middle East.
Greater choice
The integration of RBG’s portfolio, which includes complex support services such as oil platform decommissioning, fabric maintenance, inspections services and access solutions, will provide Stork Technical Services’ clients with additional expertise and greater choice from a single trusted partner. RBG’s clients will gain access to asset integrity management solutions focusing on maintenance, modification and overhaul of existing facilities for the oil & gas, power and chemicals industries.
Consistent
“This acquisition is consistent with our strategy to enhance our service offering whilst expanding our global footprint,” said Doug Meikle, CEO of Stork Technical Services. “RBG is a solid and well-structured business with a history of strong performance. RBG’s talented employees and strong client relationships align well with Stork Technical Services’ strategy of partnering with our clients by listening, thinking and doing. We look forward to partnering with operators and primary contractors, and helping them realise safe, consistent, productive asset integrity management.”
“The takeover of RBG is a fantastic milestone in the group's growth strategy," says Sjoerd Vollebregt, CEO of Stork B.V. “Under the leadership of Doug Meikle, Stork Technical Services has built up a solid foundation for accelerating our growth rate in major markets. We continue to promote and support the success of Stork Technical Services within Stork. In doing so, we keep the historic values on which this company was founded alive.”
RBG’s activities significantly increase Stork Technical Services’ global reach and capabilities. Clients based in the Americas, Europe, Middle East, Caspian and Asia Pacific regions, will continue to receive local delivery of integrated services delivered according to uniformly world-class standards.
‘Good news’
“The takeover of RBG is excellent news for our clients,” says Dave Workman, CEO of RBG. “We have been working hard to develop the business in terms of HSEQ performance, our people strategy, our integrated service offering and our commitment to innovation. Our efforts have resulted in our business being recognised as a leading support partner committed to building the geographical footprint needed to serve the international energy industry. This deal marks the next stage of our journey, bringing greater opportunities for our employees and significant benefits to our clients, to whom we offer an enhanced and unrivalled service capability. I have no doubt that this is a positive move for all. Together, we are ready to drive our business to the next level of international growth and development."
About RBG
RBG is a leading multidisciplinary partner that offers support services to the global energy industry. The company delivers tangible value to operators and contracting parties in the construction, upgrade, maintenance, operating and dismantling phases of energy assets. RBG employs over 4,500 people worldwide. Headquartered in Aberdeen (UK), other facilities and offices are located in principal areas of energy exploration and production including: Azerbaijan, Kazakhstan, the United States, Trinidad & Tobago, Qatar, the United Kingdom and the United Arab Emirates.
