MOSS | Mechanical On Site Services
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NEWS ARCHIVE

9th August 2012

MOSS acquired by global integrity and maintenance business ICR Integrity

 

Aberdeen headquartered energy services group, ICR Integrity Limited today announced the acquisition of MOSS Mechanical On Site Services Limited. Based in Kendal, Cumbria, with operations in Aberdeen, MOSS supplies a range of on-site mechanical services, including specialist on site machining, bolt tensioning and engineering solutions, to the energy, oil and gas and defence industries in the UK and internationally.

The acquisition of MOSS continues the planned expansion of ICR Integrity to create a group of companies specialising in integrity, repair and maintenance in the global energy sector. The transaction follows the acquisition of North East Corrosion Engineers (NECE) in October 2011 and the secondary buy-out of Walker Technical by Gresham Private Equity in July 2011 when ICR was formed.

“We are delighted to have acquired a company of MOSS’s calibre with such a strong market position and technical capability, combined with high standards of safety and customer service. The company is closely aligned with what ICR does, so complements our existing business. NECE and MOSS have already worked together successfully on joint offshore projects, so it was an obvious fit for us,” said Willie Rennie, Chief Executive (CEO) of ICR. “In line with our `buy and build’ strategy, this latest acquisition will provide a platform for further growth within the wider energy sector. This allows ICR to supply our oil and gas customers in the UK and overseas with an expanded range of integrated repair and mechanical services as well as creating opportunities for our other ICR businesses, Walker Technical and NECE, in the energy and defence industries. We look forward to investing in the further development of MOSS - we are already looking at creating new positions within the business to accelerate growth and expanding the capability of the company by introducing new services. This continues a very busy period for ICR, with a number of international expansion initiatives underway and a further acquisition in the pipeline.”

“We are very excited about the growth opportunities that being part of the ICR group of companies opens up to MOSS,” said Darryl Dixon, managing director of MOSS. “By joining forces with the other ICR companies, and broadening our expertise and international market reach, we are able to provide a wider range of services to our clients in a greater number of markets. The additional management support and investment from ICR will help us accelerate our growth plans across the business and enable us to further develop the capability and service we offer our existing customers.”

Willie Rennie, ICR chief executive and Darryl Dixon, MOSS managing director

It will be business as usual at MOSS with Darryl Dixon and the other five members of the management team continuing to lead the business in Kendal. The newly acquired company will report to Andy Bruce, Chief Operating Officer (COO) of ICR. MOSS was formed in 1999 and employs 60 personnel. The company has grown considerably in the last few years and today has a turnover of £5.5m. It has recently completed a large contract in the Middle East which will be a key area for development and will build on the strength of ICR in this region.

Gresham Private Equity and HSBC provided funds to support the transaction as part of ICR’s growth strategy.