Pryme Group takes over Sengs Subsea Engineering

Murray Kerr
Murray Kerr

The Pryme Group has taken over Grampian-based Sengs Subsea Engineering Solutions Limited for an undisclosed price.

Set up four years ago in Ellon by managing director Murray Kerr, SengS provides subsea engineering design consultancy and equipment testing and assembly, repair, refurbishment and rental.

Pryme, which already sells  into other sectors such as aerospace, defence and general industrial, will seek to introduce SengS as part of its overall offering to customers in these sectors.

Pryme Group – which provides a one-stop, turnkey service for contract manufacturing – is majority owned by Simmons Private Equity. SPE is an energy-focused fund managed by energy specialist investment bank Simmons & Company International Ltd. 

It was established in 2008 to support the growth of small to medium-sized energy service businesses and has £160 million under management.

Murray Kerr will continue in his role as managing director of SengS and become a shareholder in the Pryme Group. 

Lawrence Ross, Chairman, Pryme Group, said: “We have been impressed by the drive and ambition of Murray Kerr who in a short space of time he has grown SengS into a successful subsea engineering and testing company with a reputation for “can do” solutions for customers.”

See also: Accountancy firm anticipates increase in N. Sea mergers and acquisitions in year ahead

 http://www.scottishenergynews.com/accountancy-firm-anticipates-increase-in-n-sea-mergers-and-acquisitions-in-year-ahead/

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