Proserv completes acquisition of KRG Industries
ABERDEEN -- Energy production technology services company Proserv has completed its acquisition of engineering firm KRG Industries. Proserv has acquired the entire share capital of the UK-based company from majority shareholder Torishima Pump Mfg. Co. in Japan.
KRG provides precision engineering services to the oil and gas, and aerospace and defense industries. The company provides services including machining, welding, inspection and testing, to customers like oil and gas original equipment manufacturers (OEMs), oilfield service companies and defense contractors.
The deal follows Proserv’s acquisition of Australian-headquartered Velocious, a subsea intervention and tooling company. Proserv also took on U.S. company Total Instrumentation & Controls near the end of 2012.
The latest acquisition, which includes integrating all 170 personnel, based at KRG’s Coatbridge headquarters in Scotland and its Stockton-on-Tees facility, sees Proserv grow to more than 2,200 employees, with all existing KRG management continuing to run the day-to-day operations as part of the Proserv organization.