Metal reprocessing, tubular supply and decommissioning company John Lawrie Group has been bought by its management in partnership with Grovepoint and Rubicon Partners corporate investors.
The company, which was founded in 1930 by metal merchant John Lawrie in Aberdeen and which still has its headquarters in the city – is one of Scotland’s leading privately-owned businesses with operating bases in Montrose, Invergordon and Houston, Texas.
In 2016, the group had a turnover of more than £56 million.
The four members of the management team, and existing shareholders who have acquired the majority shareholding are Vic Sinclair (chief executive), Charlie Parker (financial director), Dave Weston (operations director) and Tubulars Director Iain Laing.
John Lawrie has three divisions providing metal recycling and reprocessing, decommissioning, and steel tubular services to the oil and gas, construction and utility sectors in the UK and from its US bases in Houston, New Jersey and Philadelphia.
Opportunities for growth have been identified across the three divisions. With more than two decades of experience in decommissioning projects, a key focus for the Group will continue to be the North Sea decommissioning sector, in which an estimated £17 billion will be spent over the next decade.
These growth plans will continue to be supported by Environmental Director Ray Grant who has been a key member of the management team since 2007. Following the acquisition, all existing staff will remain to help grow the business.
Sinclair said: “We enter this exciting new era as a financially strong and ambitious business backed by new investors who will help us drive further organic growth in both the UK and USA across all three of our divisions.
“We also intend to pursue new markets, including through acquisitions, in this partnership with Rubicon and Grovepoint.”
21 Nov 2017