North-east established drilling repair company, MRDS, has been acquired by Aberdeen based investment firm Garrick Group for an undisclosed amount.
MRDS, which specialises in project management, inspection, repair and overhaul of oilfield drilling equipment both on and offshore, will continue to operate from its premises in Altens, Aberdeen, whilst retaining the current workforce.
The organisation has grown year on year since launching in 2015, building a strong customer base and moving to larger premises in 2017 where it currently resides.
The acquisition by Garrick Group will help sustain the company’s position globally and enable the company to grow into new markets including renewables and decommissioning. Company founder, Mark Robertson continues to support the business through having been retained in a technical consultancy role.
Leading the deal on behalf of Garrick Group and taking on the role of Executive Chairman at MRDS, Ronnie Garrick, says, “MRDS has built up an impressive reputation in the oil and gas industry for its drilling repair services and is a solid platform for the business to grow into global markets which is where we aim to take it. The company has continued to thrive through the pandemic which is testament to its loyal customer base and impressive track record, and we look forward to working with the team.”
Sales Director at MRDS and now stepping into the role as Managing Director, Ian McGillivray, says, “I have watched MRDS grow from strength to strength in the North Sea and also in West Africa and the Middle East markets. The investment from Garrick Group will enhance MRDS’ position globally and allow us to sustain the international growth, whilst making more of an impact to help future proof the company for years to come.”
Mark Robertson says, “The acquisition comes at a time as we move into more international work and I want the company to continue to thrive. During the pandemic we have managed to sustain work and have had our workshops working to capacity, so we are in a position where the company has to continue to grow to its full potential and Garrick Group will see this through. I am looking forward to seeing where the company goes next and also to continue to support the business especially with the existing client base.”