Dec 2014 – GCP makes a successful exit from Scopus Engineering
British multinational strengthens project delivery capability through strategic acquisition
Scopus Engineering, a market leading laser scanning and dimensional control company in the global oil and gas industry, was sold to Amec Foster Wheeler (AFW) by Growth Capital Partners and management. AFW is a multinational consultancy, engineering and project management company within the same industry.
Headquartered in Aberdeen, with bases in Abu Dhabi, Malaysia, Brunei and Baku, Scopus Engineering employs over 300 professionals who provide specialist engineering services to the global oil and gas, petrochemical and nuclear industries.
GCP invested in Scopus Engineering early in 2013, and has seen turnover double to £30m between FY12 and FY14, with staff numbers up 80%. The company consistently traded well ahead of plan, and achieved its entire three year growth plan in its first year of trading under GCP ownership. During the investment period, Scopus expanded internationally, particularly in the Middle East, and also launched a new product for engineering contracts. GCP also worked with management to further develop the company’s internal structures and implement stronger corporate governance.
Scopus will continue to offer independent services to its customers through its enhanced platform. The company’s capabilities will provide AFW with complementary expertise to deliver cost-effective services across the whole life-cycle of a project. In particular, the enhanced lean engineering capability will allow AFW to provide a low-cost solution at the “late-life” stage of a facility prior to decommissioning.
Kirsty McDonald, Partner at Growth Capital Partners said:
“We were impressed with Scopus’ strong track record of rapid growth and its leading competitive position when we became investors in 2013. Since then, the company has continued to go from strength to strength – expanding its service offering, winning new customers and entering new geographic markets – and we have been delighted to partner with and support the senior team through that phase. This acquisition will see the company move on to its next stage of development and is a great opportunity for everyone involved at Scopus – we wish them all the very best in the exciting times ahead.”