Proserv buys metering firm from Petrofac

An Aberdeen-based tech firm has acquired a flow computer metering specialist from Petrofac.

Davis Larssen, CSO at Proserv (left) and James Holt, VP Metering at SGC Metering, shake hands on the deal. Picture: Contributed

Proserv, which offers controls technologies for the oil and gas sector, has expanded its portfolio by purchasing SGC Metering from the energy ­services provider for an undisclosed sum.

SGC, based in Coatbridge, designs and manufactures flow computer metering systems to gauge metrics associated with hydrocarbon production and ­enable key calculations. It has a presence in the UK and Norway, with a focus on the Middle East.

After several years assessing the firm, Proserv said it used its recent refinancing exercise as a “springboard” to pursue the acquisition.

There will be no change to the management structure at SGC, which will integrate into Proserv’s production controls business unit.

President Andrew Anderson said: “By acquiring SGC, we will be adding an additional product and service into our production controls suite of offerings. Being able to roll out a metering solution is another big step towards covering every base for our clients in our topside ­control systems.”

James Holt, VP Metering at SGC Metering, added: “We are delighted by this deal and, after enjoying a number of years within the Petrofac team, we look forward with great anticipation to linking up with Proserv and helping to add genuine value to its impressive range of systems across multiple areas of the energy industry.”