XL Group has announced its largest transaction to date with the acquisition of Artisan Measurement & Control Ltd (AMC).
The global, multi-discipline technology and engineering group has acquired AMC to add expertise, products and services in calibration, measurement, tanker loading, blending, metering systems and instrumentation to its growing list of integrated engineering services.
Formed in 2002, AMC is a business with an annual turnover of £4 million and 12 employees. The Wiltshire-based company specialises in liquid measurement and flow control for refinery and tank farm fuel and LNG products, with a customer base across the whole of the UK and Ireland.
Under the deal, which was supported by RBS, AMC will operate as a division of XL Group, providing liquid measurement and flow control services, including in-house flow loop and onsite mobile calibration, metering and testing along with bespoke products.
Headquartered in Aberdeen and initially founded in 1993, XL Group now comprises nine divisions. Recent transactions include the acquisition and successful integration of Valve4U and OGV, along with a significant investment in the majority shareholding of the start-up, Integrity XL, in 2018.
Founder and chief executive of XL Group, Colin Laird, said: “AMC’s products and services have a real synergy with our existing portfolio, particularly our divisions in automation, safety systems, flow assurance, metering and data acquisition for the oil and gas and utility sectors. This, coupled with their geographical reach and customer, base will allow us to offer an enhanced and complementary range.
“When added to our services, AMC’s calibration facility for metering, along with an accumulated 80 years’ experience, make us a more complete solutions provider.
“We are continuing to invest in people and products that enable us to solve even the most complex industrial challenges. This acquisition will accelerate our growth through innovative products and applications which deliver improvements, efficiency and compliance for our clients.”
The Royal Bank of Scotland, which has supported XL Group for more than 10 years, assisted in this latest acquisition. Eileen Tocher, Relationship Director for Commercial and Private Banking with Royal Bank of Scotland, said: “This latest acquisition by XL Group underlines the strength of the company’s market position and its aspirations for further growth, which are testament to the innovation and hard work of Colin and the team.”
The consolidated group, which is projected to deliver a turnover of around £20 million this year and employs 95 people in five locations, brings together the knowledge, expertise and technology to deliver efficiency, performance and safety through turnkey solutions for oil and gas, energy, LNG, decommissioning, manufacturing, distilleries, education, healthcare and utilities.
Read the article online at: https://www.hydrocarbonengineering.com/refining/08042019/xl-group-acquires-artisan-measurement-control-ltd/