Aberdeen pipeline company employing 500 staff seals ‘strategic’ expansion deal
“We are excited about the opportunity to add P2D’s talent and technology offering to our clients” – Stephen Rawlinson, Stats CEO
An Aberdeen-headquartered pipeline specialist that employs more than 500 staff globally has acquired a fellow Granite City business in a “strategic” expansion move.
Bosses at Stats Group said the takeover of Pipelines 2 Data (P2D) was designed to expand the firm’s global pipeline integrity and maintenance service offerings and enhance its current suite of products and services.
Kintore-based Stats, which employs hundreds of staff across operational bases in the UK, Australia, Canada, Malaysia, UAE, Oman, Qatar, Saudi Arabia and the US, is seen as a market leader in the supply of pressurised pipeline isolation, hot tapping and line stopping services which enable the maintenance and repair of pipeline infrastructure.
Backed by Japanese parent company Mitsui, the latest deal forms part of a long-term plan to build a comprehensive pipeline services platform combining inspection, diagnostics, maintenance and repair capabilities.
Financial details surrounding the acquisition are not being disclosed.
Stephen Rawlinson, chief executive of Stats, said: “By combining P2D’s inspection and cleaning expertise with Stats’ pipeline isolation and maintenance technologies, we will create a unique service offering in the pipeline services market - enabling operators to manage pipeline integrity more efficiently through a single, integrated provider.
“We are excited about the opportunity to add P2D’s talent and technology offering to our clients to help solve their complex pipeline integrity challenges. There are clear synergies between both organisations, and a strong cultural fit.
“We see this acquisition as part of a long-term growth strategy which builds on our UK heritage and will strengthen Stats’ global footprint.”
P2D’s owner and chief executive Steve Mayo and director of operations Euan Gibbons will remain with the company, which employs some 30 staff who will be retained. P2D will continue to operate from its Altens base in Aberdeen and operational hubs in Canada and the US, while working closely with Stats to integrate technologies and develop joint service offerings.
Mayo said: “I am proud of P2D and excited about the opportunity and future under the stewardship of Stats. I look forward to helping further expand the scale and scope of P2D’s offerings globally with the additional resources that companies like Stats and Mitsui can bring.”
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