RSK Group has completed the acquisition of Aberdeen-based PD&MS, a specialist engineering services company operating within the energy transition, conventional energy, low carbon and renewables sectors.
PD&MS has been operating since 2002 and helps firms in the energy industry to transition towards decarbonisation and net zero.
With a second operations base in Azerbaijan, PD&MS has a headcount of more than 700 professionals, offering solutions in consultancy, engineering, procurement, construction, commissioning and decommissioning. Its annual turnover in FY22 was £84.1 million.
PD&MS CEO Simon Rio, who has been leading the business for 10 years and will continue to do so, said, “We see RSK Group as the perfect home for the business moving forward, owing to its world-leading expertise in environmental and sustainability solutions. This deal represents a landmark moment in the evolution of PD&MS and will enable us to significantly accelerate our growth in new energy markets, while continuing to support our conventional energy clients to maximise economic recovery and play a pivotal role in their energy transition journeys.
“We are passionate about playing our part in addressing the energy transition. Our increased offering as part of the RSK Group will further enhance the scale and impact that we can make to help our growing customer base produce affordable, secure and sustainable energy.”
RSK Group CEO Alan Ryder added, “As international economies move towards their net zero targets, PD&MS can help by dealing with all critical assets, with a particular expertise in brownfield developments. The company has an exceptional reputation and track record of growth and diversification through periods of market transition. With its foundations in oil and gas services, PD&MS is now using its transferrable skills on projects and to build momentum within renewables and low carbon.
“The company has secured long-term framework agreements with major clients to support energy transition. This acquisition will see PD&MS become part of a group with the same ethos and values, where it can continue its approach transitioning the energy sector – a deal that strengthens all parties’ ability to increase focus on environmental, social and governance (ESG) issues and sustainability. This focus will include low carbon and renewables and the pace and impact of transition will be linked to performance.
“This acquisition is of major significance for RSK. It further emphasises our own growth, presence and reputation within the renewable energy sector and, with many synergies with other RSK businesses, we aim to be able to share expertise and work on an increased international scale.”
The acquisition adviser was Piper Sandler.
