Aberdeen, Scotland, August, 2016 – SCF Partners is pleased to announce the strategic merger of its portfolio company, Centurion Group, with ATR Group, to create a global player in the oil and gas rental equipment and services market. The combined group of companies will operate from bases in the United Kingdom, the Netherlands, the Caspian, Singapore, Australia and the United States.
The Group will continue to be headquartered in Aberdeen with ATR’s chief executive, Keith Moorhouse, and chief financial officer, Euan Leask, assuming those roles for the combined entity. Centurion’s acting CEO, Peter Stuart, will take on the role of Chairman, while Alan MacLeod, Centurion’s CFO, will become Director of Integration.
Centurion Group provides specialist rental equipment and services on a global scale to both the oil and gas and mining sectors. It comprises six business units: Conserve Oilfield Services, Jacks Winches, RentAir Offshore, Seanic Ocean Systems, Tristar Water Solutions, and Mining Camps Australia.
ATR Group is a leader in the rental, sale, and inspection of specialized equipment to the petrochemicals, marine, subsea, and offshore oil and gas industries. Its five business units are ATR Equipment Solutions, ATR Lifting Solutions, ATR Power Solutions, Underwater Engineering Services, and Safety & Technical Hydraulics.
Mr. Moorhouse said: “This is a great deal for both parties and their shareholders, all of whom remain in the business. It is also good news for the industry in general, especially at this difficult time. By combining our strengths and creating synergies, we will have a group that is significantly greater than the sum of its parts.”
“The merger puts us in a strong and stable position to deliver wider, cost-effective solutions, and on a global basis, that will appeal to our customers in today’s difficult market. The wider geographic footprint provided by the merger will allow us to provide our fleet management services over a number of locations, enabling us to increase operational efficiencies for our customers.”
Andy Waite, Co-President at SCF Partners, commented: “We are excited to work with the ATR management team and our new partners to continue building an industry leader in the energy specialist equipment rental space and to drive operating efficiencies and create value for our customers in a challenging market environment.”