• Centurion
• 10/12/2024

CEO SUCCESSION: RETIREMENT OF FERNANDO ASSING AND APPOINTMENT OF EUAN LEASK AS CEO

Centurion Group (Centurion or “the Group” or “the Company”), a global leader in the supply of rentals and services to a range of critical industries, today announces that after seven years in the role Fernando Assing has decided to retire as Chief Executive Officer of the Company. He will stand down from his role and the Board at the end of Q1 2025 and will be succeeded by Euan Leask, currently Chief Financial Officer of Centurion. Following a handover period Euan will assume his role on Fernando’s retirement and a process to appoint a new Chief Financial Officer will commence shortly.

Fernando and Euan have been the management team of Centurion since 2018, developed the strategy together and have led the transformation of the Group from an energy focused rentals business to a more integrated, more diversified international rentals and services Group serving multiple industries. Over this period the Group has grown both organically and by acquisition, with the acquisition of 18 new businesses into the Group, accelerating Centurion’s international expansion and extending the Group’s activities into various growing sectors such as renewables, minerals, infrastructure, environmental, defense and government. The Group’s profits have grown significantly with Proforma EBITDA of ~$111m in 2024 (2017: ~$33m) even after the successful divestiture of the infrastructure business in Canada. Centurion today is a global business of scale with 2,500 personnel across 11 countries.

Colin Welsh, Chairman and Partner at SCF, said:

“I would like to thank Fernando for his significant contribution to Centurion. The Group has grown significantly under his leadership and we have a clear strategy in place with great opportunities ahead. Fernando will leave the Board with our best wishes and thanks for his important role in the development of the business.

“I am delighted to announce the appointment of Euan as Chief Executive. Euan has extensive knowledge and experience of our business gained over many years and has a successful track record of implementing the Company’s long-standing strategy for developing and expanding the Group both organically and by acquisition. Euan will provide both continuity and progression for Centurion and we look forward to building on the successes of recent years to deliver sustainable growth into the future.”

Fernando Assing said:

“It has been a pleasure to lead Centurion over the last seven years. Centurion’s progress since 2018 has been remarkable and the company is in a strong position to create significant further value in the future. I am grateful to all of my colleagues for their commitment in embedding a strong company culture, and I have every confidence in Euan and his team to take the business forward into its next phase of growth.”

Euan Leask, Centurion CFO, said:

“I am delighted to be taking on my new role to lead Centurion. The Group has a well-established strategy, a successful business model, and we have a strong and exciting platform for growth. I look forward to continuing to work with our existing teams around the world to deliver on the opportunities for long-term profitable growth and value creation.”

ENDS

Enquiries:

Teneo

Martin Robinson / Camilla Cunningham / Nina Chatrath

+44 (0) 207 260 2700 / centurion@teneo.com

About Centurion Group

Centurion is a global leader in the supply of rentals and services to a range of critical industries, for complex, challenging and remote locations. It combines the scale and the breadth of offerings in five main regions: the US, Canada, UK & Europe, Middle East & North Africa, and Asia Pacific, with strong local presence in key energy markets to deliver value to customers around the world. For more information, please visit www.centuriongroup.co.uk