Expansion deal for company
ICR Integrity has made its first acquisition just four months after being firmed.
The Aberdeen company snapped up North East Corrosion Engineers (NECE), based in Ellon, Aberdeenshire, for an undisclosed sum
NECE - which employ 25 people and has a turnover of £2.5 million - does corrosion and chemical monitoring plus microbiology for the oil and gas industry.
Willie Rennie, ICR chief executive, said: "The acquisition of NECE is an important first step in the planned growth of ICR Integrity.
"ICR will fully support and invest in NECE to build on and accelerate the excellent growth that the business has achieved over the past few years.
"NECE is at an exciting stage of development as it has recently added new services to its portfolio such as sand management and corrosion engineering."
Rennie also confirmed he is in negotiations with two other acquisition targets.
He added: "We hope to announce these new acquisitions in the next few months."
Gresham Private Equity and HSBC backed the deal.