Italmatch Chemicals has acquired Aubin Group from BGF for an undisclosed sum.
Ellon-based Aubin is a developer and supplier of chemical solutions for the oil and gas industry and the renewable energy sector, with offices and warehouses across the UK and the Middle East.
The acquisition strengthens Genoa-headquartered Italmatch’s position in these sectors, across key strategic markets such as the Middle East, the US and the North Sea.
The deal should also expand its product portfolio, with new sustainable solutions for renewable energy market, as well as decommissioning activities.
Sergio Iorio, chief executive of Italmatch Chemicals, commented: “Our company has always invested in the continuous transformation of its product portfolio, with increasing focus dedicated to sustainable and circular solutions in all the end markets it caters to, including oil and gas.
“Thanks to its sustainable solutions, Aubin likewise embodies excellence in the renewable energy market; this synergy will further boost our R&D efforts as a group.”
Scott Miller, Italmatch’s oil and gas sales and marketing director - and recently appointed chief executive of Aubin Group - stated: “Aubin is a key player in well services and technologies that complement Italmatch’s portfolio.
“The company is also positioned to be at the forefront of the energy transition through its portfolio of innovative technology tailored to solving unique challenges.
“These include offshore wind developments as well as a disruptive solution to plug disused oil wells even in the harshest conditions, guaranteeing their long-term integrity and reducing their environmental impact.”
Paddy Collins, founder and chief technology officer at Aubin, stated: “All our discussions with Italmatch demonstrate their commitment both to excellence and also to growing their sustainable solutions, and I am confident that it will be a good home for the business.”
Richard Pugh, investor at BGF, added: “BGF has been a long-term investor in Aubin, helping build the foundations of the business and develop a wide range of new products that can both reduce costs and have lower environmental impact.
“More recently, the new technology focus has been on the energy transition – spanning from novel approaches to plugging and abandoning wells which will reduce costs and emissions dramatically, and also ways to improve the installation of offshore wind foundations.
“After nine positive years of collaboration, this new investment marked an appropriate moment for BGF to exit and we are sure Aubin will continue to be successful.”
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