Atkins acquisition boosts Oil & Gas business
Atkins, Europe’s largest multidisciplinary consultancy, today announces that it has further strengthened its position in the oil and gas sector with the acquisition of Boreas Consultants Ltd for an enterprise value of £3.8 million.
Boreas specialises in subsea engineering of oil & gas facilities and employs approximately 35 staff with offices in Aberdeen, Cranfield, Newcastle and Weybridge.
Boreas has a track record of developing innovative solutions to the challenges faced by the subsea industry - examples of which are leadership of various Joint Industry Projects in areas such as pipe buckling and the development of a number of patented technologies in the area of corrosion protection.
Martin Grant, managing director of Atkins’ oil and gas business, says: “Boreas has an outstanding reputation in subsea engineering and we are delighted to welcome the team on board. They will play a vital part in broadening our technology footprint and in aiding our international expansion plans. ”
“In the coming years an increasing proportion of oil industry spend will relate to subsea facilities. There are considerable opportunities for our expanded group to offer our clients integrated solutions with a subsea element. Additionally, we see great potential in developing our existing strong position in integrity management of structures to encompass subsea facilities, giving us a complete portfolio of services. Strong oil prices have led to a significant increase in demand for integrity management services as companies seek to extend the lives of their production assets.”
Stephen Booth, one of the four founders and the managing director of Boreas, adds: “This is a great opportunity to increase the impact of the skills and technology that we have within Boreas. We are confident that this move will create the right environment for our staff to continue to flourish.”
Atkins will integrate Boreas into its existing oil & gas business, increasing its number of employees to approximately 280 people. Atkins has been active in the oil and gas industry since 1975 and is one of the leading independent suppliers of engineering and specialist services to the industry. In March 2006, Atkins acquired MSL Engineering, an oil & gas company specialising in integrity management with bases in Surrey and Houston, Texas.
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Ben Thompson Head of press office | 01372 752154 ben.thompson@atkinsglobal.com |
Jennifer MacGregor-Smith Corporate Communication Co-ordinator | 01224 619421 jennifer.macgregor-smith@atkinsglobal.com |
NOTES TO EDITORS:
Atkins (www.atkinsglobal.com) plans, designs and enables the delivery of complex capital programmes for clients in the public and private sectors across the world. Atkins is the largest multidisciplinary consultancy in Europe; the largest engineering consultancy in the UK; and the third largest design firm in the world.
Atkins was named among the “20 Best Big Companies to Work For 2006’ by The Sunday Times; ‘Construction Consultant of the Year 2005’ by Building; and ‘Consultant of the Year Major Firm 2005’ by New Civil Engineer.
Since 1975, Atkins’ oil and gas business has been providing engineering and support solutions throughout the value chain, from exploration through to retail, and is actively involved in drilling, production, pipelines, terminals, LNG, gas distribution refining and filling stations.
Atkins' speciality is the application of advanced analysis techniques, combined with practical design and operational experience. We provide support throughout the life cycle, from the planning and feasibility stages of a project through to commissioning, operation, upgrade and abandonment.
WS Atkins plc (Atkins), Europe’s largest design and engineering consultancy, has strengthened its position in the nuclear sector with the acquisition of MG Bennett & Associates Ltd (MG Bennett), a multidisciplinary engineering design company, from its founder shareholders for a cash consideration of £2.5 million.