NBGI Private Equity has backed the management buyout of ATR Group, the Aberdeen-based oil & gas rental services business. An equity and debt financing package of over GBP20m has been put in place, with significant capital allocated to fund the growth strategy of the business.
A market leader in the rental of specialised tools and equipment principally for the offshore oil & gas industry, ATR also provides a comprehensive range of added value support services including outsourced fleet management, health and safety compliance, and inspection and certification of equipment. ATR Group has a long-standing, loyal blue-chip customer base and a track record of successfully winning contracts with new clients active in the offshore, renewables, subsea and marine sectors.
ATR has flourished since the original MBI deal in 2007, which was supported by investment from Maven Capital Partners, and now boasts turnover in excess of GBP17m. The market for ATR’s services is growing strongly, driven not only by growing global demand for energy, but also by an increasing health and safety burden in the offshore oil & gas sector and a growing number of aging platforms, which require high levels of ongoing maintenance.
Lawrence Dean (pictured), Investment Director of NBGI, who joins the ATR board, says: “ATR’s market-leading position and robust financial standing provide a strong platform for organic and acquisition-led growth. We are delighted to be supporting the senior management team and looking forward to working in partnership to take the business to the next level, building on the strong growth potential.”
