CENTURION WELCOMES PRESSURE TEST SOLUTIONS
Safety & Technical Hydraulics, part of Centurion Group, has acquired Pressure Test Solutions out of administration.
Centurion Group is pleased to announce that it has acquired Pressure Test Solutions (“PTS”) out of administration. PTS joins the Group as a part of Safety & Technical Hydraulics (STH).
PTS is engaged in the rental, sale and calibration of specialist pressure testing equipment to the offshore energy industry. PTS operates in four key niche specialist areas: Pressure Test Equipment & Instrumentation Rental; Hazardous Area Equipment & ATEX communication Rental; Flushing Units and Hose Reelers; Supply of Hydraulic & Pneumatic products & Hammer Unions.
This acquisition was led by STH’s Managing Director Mark Hislop and Centurion’s Group Finance Director Mark Raper, and was successfully completed Friday 9th October.
Stuart Preston and Julie Tait of leading business adviser Grant Thornton were appointed as joint administrators of PTS on 9 October 2020.
Following their appointment, the joint administrators completed the sale of the business as a going concern, ensuring all jobs will be retained and customer contracts and projects will continue to be serviced as normal.
Stuart Preston, partner and head of restructuring in Scotland at Grant Thornton, said: "We are very pleased to have completed a going concern sale of PTS, which secures the continued employment of a vital skilled workforce for the oil and gas sector and the North East of Scotland in these difficult times. Centurion and STH are well placed to offer a platform from which the business can continue its development."
Mark Hislop, Managing Director of STH, commented: "We are pleased to welcome PTS to the Group. We are delighted to add PTS’s reputation, expertise and equipment to our ever-expanding customer offering. This provides our customers with an even broader portfolio of services to support their critical operations.
We are confident that our experience in the market combined with the skilled workforce and strong reputation of PTS will enable us to further develop the company.”
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