Maven and Simmons acquire Roberts and Wellclad

UK private equity business Maven Capital Partners, in partnership with Simmons Parallel Energy, has led the £8.5m funding package to acquire two oil and gas businesses, Roberts Pipeline Machining and Wellclad.

Roberts designs and manufactures precision on-site portable cutting machines for blue-chip oil and gas clients such as Weatherford, Technip, Subsea 7, Acergy, FMC and Saipem.

Wellclad is a European provider of weld overlay and cladding services, for the cladding of alloy steels with a corrosion-resistant alloy for offshore and subsea equipment, providing a surface treatment for components used in highly corrosive environments.

The new group will be branded Glacier Energy Services and aims to provide customers with a range of technologies from an existing manufacturing facility in central Scotland.