Wednesday, September 18, 2019

Global Energy Group and 3rd Momentum combine divisions

Roy MacGregor
Roy MacGregor

Global Energy Group has secured a deal with 3rd Momentum that will combine their Inspection, Wire Rope and Hydraulic Hose businesses, to create a new services group enhancing their capabilities and strength in the market.

The newly formed combined venture “Rig Surveys Group Limited” will be jointly owned by Global Energy (Holdings) Ltd and 3rd Momentum Ltd.

Rig Surveys Group will consolidate and comprise of the following three main business units; Rig Surveys, Evolution Ropes and Evolution Hose. This will be combined with Global Energy’s Inspection and Wire ropes division, Reel forming the strongest Offshore Drilling Inspection Services Company in the North Sea as well enhancing their international operations.

The combined group, which will have a combined turnover in excess of £12 million and a workforce of nearly 100, will be headed by Russell Ritchie whom previously sold Reel Group to Global Energy over 10 years ago.

Russell commented, “Both businesses are aligned, they are people focused both in terms of our staff and our clients and the fit is perfect, the confidence, trust and enthusiasm we have for the market is shared”.

Roy MacGregor commented “ The combination of these businesses together with the expertise that it’s people bring will provide our clients with the smart solutions and added value they require. Momentum’s passion for great service and customer focus is a great fit for the Global Energy Group culture and I look forward to what the future holds for the new business”.

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