Potential Acquisition Of USA Firm
Senergy Alternative Energy, a division of diversified energy services company Senergy, is in the final stages of the potential acquisition of USA firm SGC Engineering. The acquisition would represent a significant step forward for Aberdeen-headquartered Senergy in its strategy to establish a leading energy services capability in North America. Senergy Alternative Energy Ltd (SAE) has agreed terms for the potential acquisition of SGC Engineering LLC (SGC), which is headquartered in Westbrook, Maine, USA. It is anticipated that combining the companies’ capabilities will strengthen their global position in the marketplace, particularly in the rapidly growing renewable energy sector.
Nial McCollam, managing director of Senergy Alternative Energy, said: “The prospect of bringing Senergy and SGC Engineering together is an excellent opportunity for both our companies. SGC Engineering will gain a larger platform from which to offer its services, both in terms of geographic and market reach while Senergy will achieve an important first step in its strategy of establishing a leading, integrated service capability in North America, supporting traditional and emerging areas of the energy sector. Most importantly, the leadership of both SGC Engineering and Senergy have found our companies share a strong sense of purpose and have closely aligned cultures and attitudes.”
Senergy Alternative Energy provides integrated project and asset development services across a diverse range of energy projects to clients worldwide. The Senergy division was established to build an ambitious technical and project consulting business in the growing alternative energy sector, and now employs 65 people. Its primary activities are in power transmission and distribution, carbon capture and storage, coalbed methane, geothermal, and wind power (onshore and offshore), having been involved in more than 50% of wind energy projects commissioned to date in the UK.
SGC Engineering, which employs approximately 60 staff, provides consultancy services, electrical and civil engineering, land surveying, GIS, project planning and project management services to gas and electrical power transmission companies, power generation companies, municipalities, wind power developers and utilities.
Tim Patch, co-president of SGC Engineering, said: “Combining our companies will create an energy services firm with the size, scale and presence to compete long-term in both North American and global markets.”
Fellow co-president Doug Morrell added: “Senergy is an ideal choice for SGC because it is an industry leader in key complementary international markets with like minded employees who are committed to succeeding. It ensures that the combined company will have the resources required to maximise market opportunities. As the acquisition is part of Senergy’s growth strategy, we anticipate this will bring positive benefits for employees and give them the opportunity to become involved in a broader, more diverse range of projects.”
Senergy is one of the world’s fastest-growing energy services companies with excellent credentials in both the oil and gas and renewables sectors, and 450 employees worldwide. Having originated from the oil and gas industry, Senergy is now rapidly emerging as a global leader in diversified, integrated energy services. In 2008, the company established Senergy Alternative Energy with a strategy to deliver world class consulting, engineering, project management and advisory services in a select range of sustainable energy segments.
Senergy Alternative Energy made its first acquisition of grid connection specialists Econnect in late 2008, and the opportunity with SGC Engineering represents a continuation of the company’s ambitious strategy of acquiring and building alternative energy service capabilities serving key markets and regions across the globe.
The deal is expected to complete by Q2 this year, subject to completion of due diligence and appropriate purchase documentation including conditions.