Aurora Energy Services - run by serial Aberdeen entrepreneur Doug Duguid - has acquired Caithness-based Northern Marine Services (NMS).
NMS is an established provider of lifting and inspection services , with customers including SSE, Subsea 7 and a number of wind farm, hydro power, telecoms and rail network clients.
This is Aurora’s third Scottish acquisition, following deals for Huntly-based offshore services and fabrication company R&M Engineering, and rope access and training firm Inverness Access Training Services.
Aurora has also invested in developing a full design engineering function at its headquarters in Aberdeen, with plans for further expansion in Blyth and Great Yarmouth in the coming months. It is also working on its first international acquisition.
NMS founder Alasdair Noble will stay with the business and lead the newly rebranded Aurora NMS.
Aurora chief executive Doug Duguid said: “Alasdair Noble has built an excellent business across a number of diverse sectors, and NMS’s strong track record in renewables aligns well with our own ambitions of becoming a leading energy services provider.
“Aurora will invest capital in NMS to strengthen its regular and specialist lifting equipment and vehicle assets and provide an infrastructure to introduce its unique offering to a wider client base out with its north west Scotland heartland.
NMS founder Alasdair Noble will stay with the business and lead the newly rebranded Aurora NMS.
“We will also put resources into recruiting staff and offering trainee opportunities in and around Wick, which as a Scottish business is an important element of our overall growth strategy.”
Big plans
Aurora’s business plan is to create a £100m turnover international energy services provider over the next five years, by mirroring and supporting the energy industry’s transition from oil and gas and by developing a strong presence in wind, solar, hydrogen, carbon capture and storage, pumped hydro and waste-to-energy sectors.
Doug Duguid and Michael Buchan were co-founders of oil and gas services company EnerMech. Over a 10-year period the two-man start up completed 17 acquisitions, employed 4,000 staff in 23 countries, and grew revenues to £415m and earnings to £50m, exiting the business in a more than £400m sale to Carlyle Group in December 2018.
Previously, Duguid led a management buy-out of PSL Energy Services in 2003 and over four years grew revenue from £20m to £110m, with 1,200 employees, achieving a return for institutional shareholders when the business was acquired by Halliburton in 2007.