Proserv creates two new divisions under major restructure

Aberdeen technology group Proserv has unveiled two new divisions as part of a corporate restructure designed to drive growth.

From left: Proservs management team Davis Larssen, David Currie and David Nemetz. Picture: John Richard Lewis

The company, which provides services to the oil and gas sector, has established Proserv Controls and Gilmore, a Proserv Company, which will both sit under the umbrella of parent company Proserv Group.

Current chief executive David Currie will step up to the role of group CEO, while chief strategy officer Davis Larssen takes on the role of CEO at Proserv Controls. Both will remain based at the company’s head office in Westhill, Aberdeen.

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Projects director David Nemetz will become president of Gilmore, based in Houston, Texas.

Proserv was recapitalised last year by majority shareholders Oaktree Capital Management and KKR, wiping out debt and commencing a structural overhaul to shift focus to its core controls technology.

Currie said: “The key message coming out of this decision is that we have restructured our business for growth. We are now cash positive, ready to invest and we also have a great opportunity to focus on our core abilities."

Larssen added: “Moving forwards, as a strategic goal, we want to define and lead controls technology in the energy market, improving the performance, integrity and uptime of our clients’ infrastructure.”