RentAir Offshore and ATR Power Solutions Merge to Become One Company

PRESS RELEASE 30-10-2016

rentairatr

RentAir Offshore and ATR Power Solutions have effectively merged to become one company, offering a broader service to the global energy industry. This follows the successful merger of their parent companies, Centurion Group and ATR Group, earlier this year.

The new combined business, which will trade under the RentAir Offshore brand, brings together the complementary expertise, products and services of both companies in the rental of specialist air compression, steam and power generation equipment to support oil & gas production, well testing, fabric maintenance and renewables.

Robbie Garden, Divisional Diector of RentAir Offshore, will continue in this role, working alongside Commercial Director, John Cooper – formerly Divisional Director of ATR Power Solutions. George Mess, Operations Director, will continue to provide technical support to the business.

Mr Garden said: “Under this merger, the position of both businesses is significantly strengthed through enhanced and increased capability and capacity in what continues to be a very challenging market. A wider service and product range, with combined and complementary technical expertise delivered globally, offers greater efficiency and added-value to our customers as they continue to seek to rationalise the supply chain and drive down costs.”

Adding the complementary products and services of ATR Power Solutions to RentAir Offshore’s global reach through bases in Aberdeen, Great Yarmouth, Netherlands, Singapore, Australia, and the United States of America opens up new opportunities for both companies. Equally, RentAir Offshore will benefit from being able to tap into the ATR Caspian business located in Baku, Azerbaijan.

In Aberdeen, ATR Power Solutions employees are transferring to RentAir Offshore’s premises in Dyce from where the merged business will operate as of Monday 3rd October 2016.

Keith Moorhouse,Chief Executive of Centurion Group, said:” After only a little over eight weeks, we are already seeing the benefits from the merger of Centurion and ATR Group. The combination of two of our business, RentAir Offshore and ATR Power Solutions, builds on what has been acheived so far through a broader range of products and services available globally and delivering much more cost-effective solutions.”

Press release 29-07-2016

 Centurion ATR

Centurion Group and ATR Group are to merge to create a global player in the oil and gas rental equipment and services market. The combined group, which will have a combined turnover of over £100 million, will operate from bases in the UK, Netherlands, Caspian, Singapore, Australia and the U.S.

The Group will continue to be headquartered in Aberdeen with ATR’s chief executive,
Keith Moorhouse and chief financial officer, Euan Leask becoming CEO and CFO
respectively. Centurion’s acting CEO, Peter Stuart will take on the role of Chairman of
the combined entity, while Alan MacLeod, Centurion’s CFO, will assume the role of
Director Of Integration.

Centurion Group provides specialist rental equipment and services on a global scale to both the oil and gas and the mining sectors. It comprises six business units: Conserve Oilfield Services, Jacks Winches, RentAir Offshore, Seanic Ocean Systems, Tristar Water Solutions and Mining Camps Australia.

ATR Group is a leader in the rental, sale and inspection of specialised equipment to the
petrochemicals, marine, subsea and offshore oil and gas industries. Its five business units
are ATR Equipment Solutions, ATR Lifting Solutions, ATR Power Solutions, Underwater
Engineering Services and Safety & Technical Hydraulics.

Mr. Moorhouse said: “This is a great deal for both parties and their shareholders, all of whom remain in the business. It is also good news for the industry in general, especially at this difficult time. By combining our strengths and creating synergies, we will have a group that is significantly greater than the sum of its parts.”

“The merger puts us in a strong and stable position to deliver wider, cost-effective solutions, and on a global basis, that will appeal to our customers’ in today’s difficult market. The wider geographic footprint provided by the merger will allow us to provide our fleet management services over a number of locations, enabling us to increase operational efficiencies for our customers.”

Corporate finance advisers to the energy industry, Simmons & Co, advised on the deal. Nick Dalgarno, managing director of Simmons & Co commented: “The merger brings together two groups with a natural fit to provide the scale to withstand the current challenges, deliver greater value for customers and realise opportunities which would not be available on a stand-alone basis. The enlarged group will be very well positioned to win the recovery, when it comes.”

 

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