Scotland – The John Lawrie Group, which is based in Scotland and specialises in metals recycling and in decommissioning services for the oil and gas sector, has been acquired from its majority shareholder by four members of its management team – and existing shareholders – in partnership with investment firms Rubicon Partners and Grovepoint.
The quartet comprises ceo Vic Sinclair, financial director Charlie Parker, operations director Dave Weston and tubulars director Iain Laing. Following the acquisition, all existing staff will remain with the £100 million turnover business, it is confirmed.
Founded in 1930 by metal merchant John Lawrie, the group’s headquarters are in Aberdeen while its other Scottish bases are in Montrose and Evanton. The company also has an operation in Houston, Texas. Its three main divisions are focused on: metals recycling and exporting processed scrap; trading of new and reusable tubulars; and decommissioning services to the oil and gas sector, including the dismantling of large oilfield and industrial structures.
A key focus will continue to be the North Sea decommissioning sector, the management team underlines. ‘We enter this exciting new era as a financially strong and ambitious business backed by new investors who will help us drive further organic growth in both the UK and USA across all three of our divisions, ‘ comments Sinclair. ‘We also intend to pursue new markets, including through acquisitions, in this partnership with Rubicon and Grovepoint.’