Glacier Energy – based in Aberdeen with sites in Glasgow, Methil, Rotherham and Redcar – offers specialist products, services and engineering solutions for new and existing infrastructure in the alternative, renewable, petrochemical and oil and gas sectors.
Diversifying into renewables
Using in-house technical expertise, Glacier Energy improves the safety, reliability and efficiency of its clients’ critical equipment, keeping those on-site safe, extending the life of the equipment and maximising both operational performance and productivity. Its customer list includes international oil companies, like PBS by Ponticelli, exploration and production companies, like Repsol Sinopec, and offshore wind companies, such as Smulders.
Glacier Energy is a great example of what is known as a “buy-and-build”. This is when a private equity firm will merge companies operating in similar markets, and with similar expertise, to form a market leader for products or services.
In this case, Maven Capital Partners – a private equity firm with significant presence in all corners of the UK and offices in Edinburgh and Glasgow – provided the funding and support to bring together two complementary engineering businesses in 2011 to create Glacier Energy.
Since Maven’s initial investment 11 years ago, it has continued to support and guide Glacier’s buyand-build strategy. The company has subsequently acquired six complementary businesses to strengthen its offering and expand into new markets, including offshore wind. This has taken Glacier to new levels of expertise in areas like non-destructive testing and inspection, and weld overlay of surface and subsea equipment. In fact, its diversification into the renewables market has been so successful, revenues from this sector now account for more than 33% of the group’s sales.