Motive Offshore Group (Motive), which specialises in rental, inspection and engineering equipment for the energy sector, has announced the acquisition of Weld Integrity Group. The move to acquire the Norway-based inspection and testing business will significantly boost Motive’s Certification & Inspection (C&I) capabilities, alongside its Norwegian presence. The acquisition is set to deliver Motive Offshore Group an additional EBITDA of £1 million annually.
Under the acquisition, Motive will immediately integrate Weld’s Norwegian operations, strengthening its presence in the market. The unified expertise of both companies will ensure a smooth transition and a future of increased efficiency and expanded services for all clients. It will also significantly extend Motive’s in-house C&I services including additional Non-Destructive Testing (NDT) & inspection capabilities, while expanding its customer base across new sectors from civil construction to aerospace.
The deal supports Motive’s goals of diversifying its revenue mix by further expanding into new regions and deriving 75% of revenues from non-oil and gas sources by 2026. It will see the business add advanced NDT capabilities such as Radiographic / X-ray inspection, enabling Motive to offer a wider range of non-intrusive inspection of infrastructure to its customers across regions from the Middle East to the US. Motive will also acquire Weld Integrity’s majority shareholding in Weld Integrity Oslo and Integrity Heat, which focuses on heat treatment of welds and materials.
The acquisition brings in-house a seasoned management team, adding decades of specialist inspection industry experience. As part of the move, Weld Integrity Founder and CEO, Max Brown, a highly regarded industry leader with two decades of NDT expertise, will assume the role of Regional Manager for Scandinavia. Motive will also incorporate Weld Integrity’s large pool of multi-disciplinary local inspectors, adding 20 new inspectors to its workforce and a range of competencies in Norway and globally.
Dave Acton, CEO at Motive Offshore Group, said: “Norway is an exciting growing market in offshore energy, and Weld Integrity’s highly competent, local team of inspectors will help us make inroads into this vibrant market, while expanding NDT and inspection services to our customers. Our C&I Division, delivers long-term, recurring revenue by supporting customers in maximising the efficiency and profitability of their assets. We work collaboratively to reduce risk, enhance quality, and ensure full compliance with relevant standards and regulations.”
Max Brown, CEO of Weld Integrity Group, said: “There are natural synergies between our businesses and many opportunities for combining our services. This will enable us to tap into Motive’s international customer base across the offshore energy market, as well as offering Motive’s wider services to our current customers across Norway’s commercial and industrial sectors. With our EBITDA increasing 29% in the last twelve months and the potential for significant further growth, this offers an opportunity to significantly grow our combined revenues.”