The management buy-out (MBO) is backed by The Royal Bank of Scotland and led by managing director Neil McCarthy, who has worked at parent company Kinetic for the past seven years. The purchase price has not been disclosed.
Says McCarthy, ‘Demand for skilled workers in the energy production markets remains strong and we are keen to expand our presence in all sectors.’
Accountancy group DTE and legal firm Eversheds acted on behalf of the bank, while business advisory firm PKF and law firm Pannone advised Kinetic Technical.
Kinetic Technical has sales of £20 million and employs 21 people. Its clients include ExxonMobil, Shell and GlaxoSmithKline.