LEADING Aberdeen-based oil and gas service group CUL Holdings Limited, which includes Centrifuges Un-Limited, is gearing up for the next chapter in its evolution.
The Dyce-based company has started 2020 with news that it has been acquired, for an undisclosed sum, by Linton Investments Limited, the investment vehicle established by the Ferguson family, following the sale of Ferguson Group.
Centrifuges Un-Limited was formed by local entrepreneur Jim Shiach in 2001 and he will continue to be involved with the company during the transition period. No redundancies are planned.
The Linton Investment portfolio includes a diverse spread of investments across different sectors including Marine, Farming, Property and Technology.
Centrifuges Un-Limited specialises in the design, manufacture, installation and maintenance of a range of equipment including fuel/oily water separators, mud coolers for high-pressure high temperature (HPHT) fluid management and the Elvos® slops treatment system. Central to recent growth has been the company’s focus on the mechanical separation division which specialises in fluid cleaning solutions for diesel fuel management, oily water separation for platform decommissioning, rig drains treatment, pipeline cleaning, well-testing activities and well completions.
James Scullion, on behalf of Linton Investments, who will join the Centrifuges Board, said: “This is our first investment back into the oil sector as we have been waiting for the right time in the cycle and the right opportunity with the right environmental credentials to come along. Centrifuges has an excellent heritage which we believe we can build upon and develop.”
John Dick, who will also join the Board added: “Exploring the rental market further and internationalisation will be key drivers in our future strategy, coupled with more emphasis on developing opportunities in industries beyond oil and gas.”
Jim Shiach said: “I believe that this move is important in facilitating further expansion for the company and essentially taking it to the next level in terms of growth and innovation. The business pedigree and family ethos of Linton Investments make them perfectly positioned as the best people to take the company forward.”