Aberdeen engineering firm targets North Sea after multi-million investment
Serba Dinamik Group Holdings Bhd (SDGB) plans to use its partnership with Wellahead Engineering as a springboard to build its operations and explore new markets in the region. The deal will also provide Wellahead with investment for growth and access to SDGB’s existing client base.
SDGB is a wholly owned subsidiary of Serba Dinamik Holdings Berhad, which is listed on the Malaysian stock exchange, and has operations in 26 countries. The group employs more than 2,000 people.
Wellahead was founded in 1998 by Mike Coutts and employs 15 staff. Coutts will retain a stake in the business and continue in his role as managing director to spearhead its expansion.
Coutts said: “Wellahead has always been a successful business, thanks to our loyal and hard-working team, however this partnership with SDGB will open up new and exciting growth opportunities. It will allow us to invest in our equipment, our premises and our people and take the business to a new level.”
A spokesperson from SDGB said: “We are very pleased to establish a strategic presence in Aberdeen, arguably the oil and gas capital city of Europe. We look forward to developing our relationship with Wellahead Engineering and hope that this will be a first step towards expansion of our business interests in the region.”
Tom Faichnie of Dow Schofield Watts Aberdeen provided corporate finance advice to Wellahead. He said: “It is great to see a business the size and scale of SDGB coming into the North Sea market and investing in Aberdeen. It is a real tribute to Mike and his team to have secured this partnership which will help both businesses to go from strength to strength.”
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