Denholm Oilfield Services Limited has acquired 50 per cent of KSW Engineering Limited for an undisclosed sum.
Denholm Oilfield Services Limited serves the oil and gas industry in key global locations including the UK, Azerbaijan, Kazakhstan and the United Arab Emirates offering maintenance and turnaround, heavy and light fabrication, specialist engineering, electrical and instrumentation, valve sales, repair and maintenance, and freight forwarding services.
KSW Engineering is a leading provider of specialist medium to heavy engineering and welding services based in Glenrothes. KSW employs 70 staff, predominately serving the specialist subsea market.
Michael Beveridge, Chief Executive of Denholm Oilfield Services Limited commented: "KSW complements our wider service offering and enhances our engineering and light fabrication portfolio supplying the oil ad gas market. KSW has a reputation for quality and its values are a perfect fit for Denholm and we believe that together with the Stewart family we can grow the business in the UK and into new territories."
Stewart Wilson, Managing Director of KSW said: "The Directors of KSW Engineering are delighted to welcome Denholm Oilfield Services as our partners, the potential growth, and the calibre of the team that we are involved with can only make our company stronger.
The way forward for our business is now secured, with our new partners enabling us to expand both organically and through acquisition at a faster pace than we could do on our own. These are exciting times for KSW and our staff and customers alike and we are now well placed to meet our ever increasing customers' demands for the long term."