Acquisition boosts Global Energy Group’s logistics capability

The Global Energy Group is expanding its logistics and stevedoring services through the acquisition of a specialist Invergordon-based company.

Global this week successfully concluded negotiations to acquire 100 per cent of share capital in Highland Stevedoring Limited from HQC in Inverness.

Formed in 2007, Highland Stevedoring provides full cargo loading and discharging services and a fully comprehensive agency service as well as bulk transport and warehousing facilities.

Jim Christie of Highland Stevedoring will continue to run the business and the company’s eight-strong workforce will be retained.  The acquisition includes all Highland Stevedoring’s plant and haulage equipment.

Global Energy Group chairman, Roy MacGregor, said:  “I am delighted to welcome Jim and his colleagues to the Global family of companies.

“This acquisition will enable us to significantly extend the range of logistics and stevedoring services we already provide through our Global Logistics team in Invergordon.”

The Global Energy Group, which has main offices in Aberdeen and Inverness, recently announced annual results for the 2008-09 financial year showing turnover up by more than 50 per cent to £130 million on the previous year and profits, after tax, of £6.6 million, compared with £3.7million in 2007-08.

Earlier this month the company was placed at number 29 – the highest placing for a Scottish business - in this year’s Virgin Sunday Times Fast Track 100 league table of the UK’s fastest growing privately owned companies.

Mr. MacGregor said that, despite challenging market conditions during the second half of 2009, Global remained on course for further growth and success.

He added:  “Our robust strategy of development through organic growth and acquisition will continue in 2010.

“We are continuing to build the international scope of our operations.  However, as this latest acquisition demonstrates, we also remain firmly committed to developing our services in our home area, providing good employment opportunities and contributing significantly to the local economy.
 
“We currently have some very exciting plans in the pipeline, which I think will further underline that commitment.  Coupled with this, in the coming year, we will be expanding our programme of professional, vocational and personal development opportunities for our superb workforce.”