Amplus Energy secures future of Aberdeen based Survey company Andrews Survey in a multi million pound deal

July 04, 2016

Amplus Energy, an Aberdeen based floating production services firm, has concluded a multi million pound deal to buy Aberdeen based survey company, Andrews Survey, from the administrators of the Harkand Group, which went into administration at the beginning of May.

Andrews Survey provides survey and positioning services to the offshore oil and gas and renewables markets, and has continued operating normally throughout the Harkand administration period. Andrews Survey has 42 staff, all of whom will transfer over with the company and will operate independently as part of the Amplus Group with immediate effect. The company will relocate to the Amplus Group’s Bridge of Don premises in Grandholm Drive at the end of July 2016.

It is the second time that the Amplus Energy managing director, Ian Herd, has acquired Andrews Survey. Mr Herd initially purchased the survey company in 2007, when he ran Integrated Subsea Services (ISS). ISS and Andrews Survey worked successfully together for five years prior to both companies being sold to the Harkand Group in 2012.

This time round, Andrews Survey attracted a significant number of potential buyers and the administrators received several offers for the company prior to concluding the transaction with Amplus Energy.

The deal has secured the future of the Survey company, which will continue to operate independently as Andrews Survey, under the existing management team and as part of the Amplus Group.

Ian Herd, managing director of Amplus Energy, said: “This was a great opportunity for Amplus to acquire a very good company with an excellent reputation in an extremely difficult market. I know the company and the management team very well and I’m confident we can quickly get Andrews Survey back on an even keel. This is a very good fit for Amplus Energy and allows us to significantly expand our service offering to our clients.”

Managing director of Andrews Survey, Stuart Reid, said: “It has been a difficult time for the team at Andrews Survey and we are relieved that a suitable buyer has been found. Our management team and staff have worked closely with Ian before and we work well together. We all feel that Andrews Survey being part of the Amplus Group will bring stability back to the business. We have a strong brand name in the industry and this deal will allow us to, once again, work more independently.”

The acquisition will ensure Amplus has a bigger presence in the North Sea, West Africa and the Gulf of Mexico markets as the firm looks to win survey work and contracts for the Amplus FPSO vessel (floating, production, storage and offloading), utilising their innovative dynamically positioned (DP) versatile production unit (VPU).

Amplus Energy Services is positioning itself to build presence in its market and grow the business to create more jobs in the North-East and on global projects.

source: sbnn.co.uk

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