Companies have teamed up to go after larger contracts
Two Aberdeen oilfield services firms have agreed to merge to go after larger and more complex contracts.
Energetics firm SPEX Services (SPEX) has teamed up with engineering consultancy Cognity.
The new company will employ 74 staff and is expected to generate sales of around £10 million a year.
Both companies will retain their brand identities, though there are plans to rebrand the group later in the year.
Cognity will provide engineering design alongside SPEX’s existing engineering, machining and test infrastructure, which both parties say will allow them to now deliver projects from concept to completion.
Cognity's managing director, Rae Younger, will join the SPEX board of directors and will run the engineering division within the new company.
He said: “Both companies were looking at ways to expand and we recognised that the combined force of SPEX and Cognity would allow us to offer services which are highly complementary.
“The move will help Cognity to expand its capabilities beyond design to include build and supply.”
John Fox, managing director of SPEX added: “Cognity brings an excellent track record in project engineering and innovation while SPEX has a strong foundation of project experience to build upon including rapid prototyping and offshore services.
“We hope that this expertise and experience will greatly enhance the range of solutions we can offer clients.”