Proserv Acquires SGC Metering
The global energy services company has announced the acquisition of SGC Metering from Petrofac.
SGC Metering is a specialist in the design and manufacture of flow computer metering systems for the oil and gas industry. It provides expertise right across the full life cycle of a metering project, including conceptual design through to installation, operations and maintenance.
The firm was established in 1988 and its wide array of systems allows the measurement of all the important metrics associated with hydrocarbon production, namely volume, temperature, pressure and composition to enable a variety of key calculations.
Proserv had been assessing SGC Metering for several years and it has used the springboard of its recent refinancing exercise, and its new strategic direction, to actively pursue an acquisition.
SGC will integrate into Proserv’s Production Controls business unit, headed up by its president, Andrew Anderson.
Speaking about the rationale behind the acquisition Proserv’s CSO Davis Larssen said, “SGC has a strong presence in the UK, the Norwegian market and has historically had a good focus in the Middle East, throughout the GCC – so this matches the markets that we already serve quite well within our Production Controls business unit.
“With our combined offering, we will complement each other very well within those regions, and this deal will also give us a better opportunity to leap forward strongly into new markets.”
The purchase of SGC Metering represents a major component of Proserv’s strategy of providing systems from the wellhead right through to the pipeline. Andrew Anderson added:
“By acquiring SGC, we will be adding an additional product and service into our production controls suite of offerings. Being able to roll out a metering solution is another big step towards covering every base for our clients in our topside control systems.
“SGC joining the Proserv family means we effectively become a one stop shop for our customers.”
As SGC Metering becomes part of the Proserv portfolio, there will be no change to the firm’s management structure, with James Holt continuing to lead SGC. Holt stated, “We are delighted by this deal and after enjoying a number of years within the Petrofac team, we look forward with great anticipation to linking up with Proserv and helping to add genuine value to its impressive range of systems across multiple areas of the energy industry.”
Proserv is a controls technology company providing tailored solutions to clients across the drilling, production and decommissioning market sectors.