Scottish engineering company Pryme Group has said it will be able to take on larger projects after a merger.
It added the merger with Caley Ocean Systems (COS) and Imes International – both owned by Seanamic Group – would boost its offering to the energy, defence and other industrial markets.
Pryme chief executive Kerrie Murray will lead the new integrated business, which will have 260 staff across offices in Aberdeen, Ellon, Glasgow, Morecambe, Newcastle, Plymouth, Portsmouth, Renfrew, Rosyth and Sheffield.
‘Support larger and complex projects’
Ms Murray said: “The combined business will have a greater regional footprint, with broader resources and capabilities.
“This will enable Pryme Group to support larger and more complex projects than ever before.
“This will create a strong, resilient business, well-positioned to support customers across a range of sectors.
“By bringing these successful businesses together, we have the opportunity to grow the group, invest in our people, strengthen the range of products, services and solutions for our customers, and extend our offering in new areas such as the energy transition.
“Renewable energy capacity in the UK is expected to more than double by 2030 and we have the capabilities and experience within the group to support this important move to clean energy sources.”
Who are the companies in the merger with Pryme Group?
Simmons Private Equity is the major shareholder in each of the businesses. It hopes the merger will create a “market leading” manufacturing and testing company, with critical mass to support multiple sectors.
Dundee-based Pryme operates GA Engineering and GA Sliding Head in its home city and these have seen £1 million invested in the past four years. The group also owns SengS Engineering Solutions in Ellon.
Glasgow-based COS, with 36 employees, has 50 years of experience of designing, manufacturing and testing offshore handling systems. It can work on launch and recovery systems, pipe deployment, davits and deep-water lowering.
Imes employs 52 people and is headquartered in Bridge of Don, Aberdeen.