The energy market has an ever-changing landscape. A company that is independent yesterday could be purchased by some big energy company the next. In an effort to stay with this model, which has been working so well for the industry, Glacier Energy has announced that it will be making yet another acquisition. This will make the company’s fourth buyout in the past two years. If everything goes according to plan, the company will see its turnover boosted by £15 million.
Glacier Energy, which was just formed back in 2011, said that it is in the middle of selling a multimillion pound deal to buy Ross Offshore. The idea behind this acquisition is for Glacier Energy to establish itself in the offshore energy market. Glacier Energy proved its intentions of jumping into the offshore energy market when it set up a new offshore divisional headquarters. This new headquarters is located in Aberdeen. Right now, it houses 110 staff, but this number is set to grow.
Although this is a big deal, Ross Offshore will still operate normally but from under the umbrella of Glacier Energy. In fact, Toby Ross, the founder and current managing director at Ross Offshore, will continue to lead his business. Although this situation could change at any time, it appears as if his job is safe for now.
When speaking about this new acquisition, Ross said that this new buyout allows Ross Offshore to be part of Glacier Energy. This helps to fuel growth in Ross Offshore and allows the company to focus completely on broadening its own services. Ross Offshore plans to work very closely with Glacier Energy and its fellow companies. The goal is to help increase this group’s already large client base. This will be done by Ross Offshore continuing to offer the best in offshore services.
The director of Glacier’s offshore division, Mark Derry, said that the acquisition of Ross Offshore is just a natural fit for the company. He said that Ross Offshore already has the technology and equipment to help Glacier jumpstart its offshore plans.
All this said, Glacier Energy is not done changing the face of the energy industry. The company said that it still has more deals that will be coming to light in the coming months. Glacier Energy is looking to keep expanding so it can ramp up its skills in a number of different areas in the energy industry.