Member Article

Gateshead's Pyeroy sold to international energy services firm

Gateshead-based Pyeroy has been sold to international energy services outfit Wood Group, for an undisclosed sum.

Pyeroy is a supplier of specialist coatings, access and fabric maintenance services to the oil and gas, marine, and rail industries.

It has a workforce of around 1,800 at eight locations throughout the UK and last year generated revenue of £88.9m.

Robin Watson, CEO of Wood Group PSN said: “Pyeroy has an excellent track record of supporting the operational needs of major oil & gas, marine, and rail customers and has a high quality, highly trained workforce. The acquisition of Pyeroy marks a strategic move into specialist coatings, access services and fabric maintenance which broadens our service offering to oil & gas customers.

“These services are particularly relevant for extending the life of existing infrastructure, and for decommissioning projects. As an example Pyeroy’s expertise on the Forth Rail Bridge refurbishment can be transferred into the oil & gas sector.”

Pyeroy managing director, Hugh Pelham, will continue to lead the firm as part of Wood Group.

He said: “The fit is ideal, strategically. “We have room for growth in the oil & gas sector and we also have the skills and experience to complement Wood Group PSN’s oil & gas capability. We believe that joining Wood Group will enable us to offer a broader service offering to our customers. We will be joining a Group that shares our commitment to safety and provides the highest quality service to our customers.”

This was posted in Bdaily's Members' News section by Tom Keighley .