August 27 2014 Latest news:
By shaun Lowthorpe Business editor
Saturday, November 3, 2012
Loddon-based training company Oilennium is looking to expand after being bought by Scottish-based multinational Petrofac in an undisclosed deal.
The move means that Oilennium, a member of the EDP Future 50, whose 24 staff provide online and e-learning training for oil and gas workers will become of the FTSE 100 listed company, which employs about 17,200 people worldwide from seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur as well as a further 24 offices worldwide.
Petrofac Training Services (PTS) specialises in providing bespoke training for oil and gas workers to fill skills gaps.
Developing an e-learning capability was a key priority for PTS and it said that the acquisition of Oilennium would enable the company to deliver a cost-effective and differentiated offering to its customers.
Paul Groves, PTS managing director, said: “We are delighted to welcome Oilennium to the Petrofac organisation. It is our intent to become the leader in delivering blended learning to the global oil and gas industry and this acquisition gives Petrofac the final piece of the jigsaw in providing this capability. I look forward to working with the team to create the leading e-learning business for this market.”
Oilennium was advised on the deal by Howes Percival while Larking Gowen worked on the accountancy side.
Kevin Keable, managing director and owner of Oilennium, which started providing e-learning courses in 2006, said the move will help drive more growth in the business.
“We are very excited about joining the Petrofac organisation,” he said. “Oilennium has enjoyed significant growth over the last few years and now with the market access, content and synergies that Petrofac brings to us, we will be able to accelerate that growth and enhance our high standards.
“We are going to be Oilennium Ltd, part of the Petrofac group,” he added. “They value our brand and that’s one of the reasons why they acquired us, so that we can our business within Petrofac. We will carry on doing all the things we have done for our clients but now we will have a much better global reach.
“It means complete stability for our current staff and we are intent on growth and now we can grow much faster than we would have done.
“We will be recruiting locally for sure and will be starting that process on Monday.”
Robert Colman who led the Howes Percival team said: “This is a great deal for Oilennium and it reflects all the hard work that Kevin and his team have put in over the years. It is a great business that has grown and thrived in this region and this deal should see it continue to go from strength to strength.
“Energy is one sector where this region is world class and we have the expertise to create and grow market leading companies that are attractive to multi-national organisations. It is a vibrant and growing sector which is great for the region but there is a very important role for support services such as ourselves to play. When companies are growing and changing quickly, it is important that they get the right advice and support. We’ve built up a specialism in this area and have received a number of instructions in recent months from energy companies.”
Adrian Possener a partner and head of the Birketts company commercial team in Norwich, which supports the Future 50 initiative, said: “Oilennium is an example of a Future 50 company that has grown rapidly and moved on to the next stage in its corporate life in order to develop a global market. We wish it well and hope it will encourage other Future 50 companies in the pursuit of an international strategy.”
A Norwich-based business which started as a “man with a van” operation is eyeing further expansion after seeing its predicted turnover increase from £6,000 to £340,000 within five years.