Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

GEG deal on Port Services

GEG deal on Port Services

Global Energy Group (GEG) has boosted its operations in the Cromarty Firth with the acquisition of Port Services Group.

The long-awaited deal, which is thought to have been completed in October, gives the rapidly growing energy services and fabrication giant a controlling stake in Port Services, which has a significant operation on the service base at Invergordon and employs around 60 people.

The firms declined to comment on the terms of the deal. A spokesman for GEG said its reticence to disclose the deal was due to ongoing “contractual obligations between both parties”.

Last year, GEG agreed the multimillion-pound acquisition of iFAB from Port Services. The value of the deal was not disclosed, but the Invergordon-based fabrication facility, which had been opened by First Minister Alex Salmond in 2011, had an annual turnover of more than £10million. The company said all 40 employees would be transferred across to Aberdeen and Inverness-based GEG.

When Global acquired iFAB, the firm’s chief executive, Iain MacGregor, said it was attracted to the business because of the quality of its premises and its workforce.

Fast-growing GEG pledged to continue making further acquisitions in December when it revealed that its sales had grown 43% to £358million to the year end March 2013. Its earnings before interest, tax and depreciation also rose significant to £34.5million, compared to £16.9million in 2011-12.

In December, GEG announced it had snapped up Australian firm, Cunningham Construction. Again, the terms of the deal were undisclosed but it said sales at the firm had exceeded £7.2million in 2012.

At the time Mr MacGregor said he hoped to get at least one more acquisition done before April.

He added: “Acquisition growth in the latter part of the year will be focused in the operations and maintenance space, particularly in international markets.

“Enhancing our existing propositions in the USA (Gulf of Mexico) and Norway are expected to take priority in 2013-14 – as well as further growth in Australia.”

Port Services was established in 1986 and has operations in Invergordon and Bridge of Don, Aberdeen.

In 2012, Port Services, privately owned by the Clark family, sold a remaining 50% stake in Caithness-based Scrabster Port Services (SPS) to its joint venture partner, oil and gas logistics company Asco.