We are delighted to have advised RMEC Group Limited on their sale to Centurion Group Limited.
Established in 2004, RMEC is a well intervention specialist, providing tailored managed solutions for the oil & gas industry, from the wellhead to the topside that deliver improved operational efficiency, reduced asset downtime and costs across the full lifecycle of the well.
Following investment from Maven in 2014, the shareholders were seeking an exit, albeit management were happy to remain in the business as employees.
Our team provided corporate finance advisory services to the shareholders. With a strong understanding of the oil & gas sector, this enabled us to approach a credible list of trade players.
Ultimately, management selected Centurion as the right buyer for the business due to the complementary fit of services and opportunity to extend global reach. Centurion is a global leader in the supply of critical services to a multitude of industries.
RMEC provides Centurion with greater access to the decommissioning market and adds valuable long-standing customer relationships.
Our breadth of knowledge in the sector, combined with our extensive network of contacts enabled us to run a targeted process and meet shareholder expectations in terms of price and transaction structure.
This transaction will ensure continued growth for RMEC in the future and delivers a positive result for all stakeholders.
The quality of service and performance we received from Grant Thornton has been exceptional. Barry and Amy knew the market intimately and ensured the process of finding a buyer ran smoothly, keeping us abreast of any developments and always being on-hand to answer any queries we had, utilising their experience of past deals to get the sale of our business over the line. Dealing directly with those we met at pitch stage, rather than being passed from pillar to post throughout the process, was refreshing. Overall, I would highly recommend Grant Thornton and hope to work with Barry and Amy again in the future.Bryan Fagan CEO, RMEC