Major growth on cards as fledgling Inverness energy specialist makes US push
Aurora Energy Services has acquired US wind turbine blade repair and maintenance specialist Cotech Group for a “significant” undisclosed sum - the fourth and largest acquisition to date by the Scottish firm. Cotech was founded by Aberdonian Mike Wallace in 2005 and provides a range of rope access and non-rope access inspection, repair, construction and maintenance services, with the majority of its work being in the onshore and offshore wind sector.
Wallace along with finance director Mark Wallace and other senior management will remain part of the enlarged business and will spearhead Cotech’s growth stateside, while exporting its expertise into European, Asian and Australian renewable energy markets. Aurora’s goal is to expand on Cotech’s near-20-year footprint of providing energy services in Brazil and throughout South America. Over the next three years Cotech’s 100-strong workforce is expected to treble to some 300 staff.
Aurora launched in April with a stated objective of creating a £100 million turnover business within five years by supporting the transition to energy net zero and providing services in the wind, solar, carbon capture and storage, pumped hydro and waste-to-energy sectors.
Chief executive Doug Duguid said: “This strategic acquisition is important on a number of levels, giving us immediate access to the massive US wind sector, and laying the foundation for rapid expansion in Europe, Australia and Latin America. Mike Wallace has established an excellent highly-respected business and Cotech’s standing in the US onshore and offshore wind sector adds a layer of expertise which Aurora can utilise outwith the company’s established markets.
“We will export Cotech’s skills and experience firstly into the UK and Europe, and send key members of our Scottish team to the US to benefit from the latest training and techniques in wind energy inspection and repair services.”
The Cotech transaction follows the acquisition of three UK companies - Northern Marine Services, R&M Engineering, and Inverness Access Training Services - and the owners of all four businesses are shareholders in Aurora Energy Services.
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