A management buyout has been completed on Engineering, Procurement and Construction services company, Fabricom Offshore Services Limited.
Fabricom Offshore Services has experienced impressive growth over the last 12 months and has been acquired by the Chief Executive Officer Nick Oates, who will lead the business with support from the senior management team.
Fabricom provides specialist engineering, procurement and construction services to the energy industry, ranging from concept development and brownfield modifications through to late-life extensions and decommissioning. The company has worked for major oil and gas operators including Centrica Storage, Ineos, Maersk, Talisman, CNRI, Neptune and Enquest.
They have recently taken a new office space in Westhill Business Park as part of the business expansion strategy. The company was set up in 2007 and employs over 100 personnel across its Aberdeen and Newcastle offices, strategically placed along the east coast of the UK to provide services to the UK Continental Shelf.
Nick Oates, who recently won an IoD Director of the Year Awards said “This deal will allow us to focus on the long term direction of the company and to expand organically following the substantial growth we have seen.
The business has faced tough challenges like many others throughout the market downturn, but the passion and determination of our employees has never faltered, and for this reason I have no doubt that Fabricom will continue as a market leader for providing EPC services.
I’m excited for the future and would like to personally thank our clients and suppliers for their continued support. We’re expecting big things and our aim now is to drive forward this growth and to further cement our presence in Aberdeen and grow the Oil & Gas business.
For now it’s business as usual as we continue to maintain our ethos of promoting a proactive culture, that is built upon of trustworthy and transparent method of working.”