Aberdeen dealmaker Colin Welsh has announced SCF Partners is investing £22million in offshore engineering firm Tekmar Group.
Through their investment, SCF are providing £22million of committed capital to accelerate its growth strategy that will capitalise on the increasing demand for offshore wind projects worldwide.
Tekmar has been trading for over 40 years and today provides engineering services and technologies to support and protect offshore wind farms, other offshore energy assets and marine infrastructure.
Mr Welsh and former wind industry CEO Steve Lockard will join the board of Tekmar under the deal, which was announced yesterday afternoon.
For SCF, the deal adds a further UK business to its portfolio, which already includes Global E&C, Hydrasun, Score Group and Centurion, all of which have operations in the Aberdeen and Aberdeenshire areas.
SCF Partners helps entrepreneurs to build leading energy companies by providing capital and expertise. The firm, which is over 30-years-old, is headquartered in Houston, and has offices in Calgary, Aberdeen, Singapore and Adelaide.
Alasdair MacDonald, CEO of Tekmar Group, said: “We are delighted to have successfully completed the strategic investment with SCF, which is a very significant and positive landmark for the business.
"SCF are a highly complementary partner for Tekmar and share our ambition to build a leading offshore energy product and services company, leveraging Tekmar’s existing market-leading and trusted position in the industry.
"SCF are a highly regarded energy services investor with a long track record of building leading energy services businesses globally and generating significant shareholder value.
Steve Lockard, Operating Partner at SCF, said: “SCF are excited to be partnering with the team at Tekmar. From our perspective, we are investing in a business with market leading positions and a strong reputation in the industry for engineering excellence.
"We firmly believe this creates an unrivalled platform for Tekmar to grow with their customers and industry partners, creating a leading player in the offshore energy market.
"Tekmar plays a critical role in supporting the decarbonisation of energy infrastructure and the team has the capability and core offering to support today’s infrastructure requirements and also to play a leadership role in broadening their offering in support of the industry’s maturing requirements in an increasingly complex offshore wind environment.
"Our investment reinforces Tekmar’s market leading position today and provides flexible capital to accelerate growth in a dynamic industry where investment is scaling rapidly in support of the world’s evolving sources of energy.”