Centurion has completed the merger with Oil Patch Group, SITE Energy Services and Waste Treatment Solutions, to create a global player in the energy supply and infrastructure services market. The combined Centurion Group will operate from bases in the United Kingdom, the United States, Canada, the Caspian, Singapore, and Australia.
The enlarged platform is ideally placed to serve its growing, international customer base in both the onshore and offshore markets across the globe.
Each company will continue to operate under its existing brand name and the current CEOs will continue to lead their respective businesses. The group will be headquartered in Aberdeen with Centurion Chairman Peter Stuart becoming interim CEO for the group and Centurion CFO, Euan Leask, assuming that role for the combined company. The group also welcome the move of Centurion non-executive director Colin Welsh to the role of group Chairman.
Each of the individual companies’ lenders are supportive of the merger and have all participated in new term loan and revolving facilities for the combination. The new facilities provide the enlarged Centurion Group with greater financial flexibility and the opportunity to invest in accretive M&A and organic growth opportunities.
The 4 divisions of the combined group are as follows:
Centurion Group (www.centuriongroup.co.uk) led by CEO Keith Moorhouse, provides specialist rental equipment and services on a global scale to both the oil and gas and mining sectors. It comprises eight business units: Conserve Oilfield Services, ATR group, Safety and Technical Hydraulics, Jacks Winches, RentAir Offshore, Seanic Ocean Systems, Tristar Water Solutions, and Mining Camps Australia.
Oil Patch (oilpatchgroup.com) led by CEO Jim Elzner, a provider of rental equipment and services to support oil and gas drilling and completion work, has operations throughout Texas, North Dakota, Oklahoma, New Mexico and Arkansas. The company focuses on accommodation and support services, downhole drill pipe and tubular rental products, and production testing and flow back.
Waste Treatment Solutions (www.wtsolutions.ca) led by CEO Trevor Williams, is an integrated oilfield equipment supplier of combined sewage treatment, dual generator and lighting systems, packaged with work camps for remote rig camps, rig sites and completion sites in Alberta, British Columbia, and all of Western Canada’s oil and gas industry.
SITE (www.siterg.com) led by CEO Lyle Reid, is a project solutions and integrated services provider that delivers remote access, infrastructure, and environmental services for construction and maintenance projects across Western Canada. The company operates nine branch offices serving the oil & gas, mining, infrastructure, renewable energy, power, and environmental sectors.
Antoine Raoux, Partner of Stage Capital commented: “This is an exciting time for Centurion with the merger providing the combined group with a broader global reach and service offering with which to serve its international customer base. Post merger, Centurion will continue to target further expansion with its buy & build strategy in order to become the global leader in energy supply and infrastructure services. This strategy is consistent with Stage’s focus on building mid-market platform investments.”