Suretank announces acquisition of Prior Diesel

Suretank, a leading provider of engineered solutions to the offshore oil and gas industry, today announced the acquisition of Prior Diesel, an oil services company based in the thriving oil and gas centre of Great Yarmouth, UK. The acquisition was made with the support of Ulster Bank's Corporate and Institutional Banking team.

Prior Diesel Limited has served the oil and gas, marine and industrial sectors since 1980, with an established reputation in the design, manufacture and servicing of a wide range of well service equipment including nitrogen pumps, specialist skids, coil tubing and wireline units.

In addition to its strong well service operation, Prior Diesel represents and supplies many leading diesel engine manufacturers as well as offering packaged solutions such as Zone II powerpacks, Power Generation sets and Hydraulic powerpacks. All of its new products are supported by thriving Service and Parts departments that specialise in Engine rebuilding, maintenance contracts and supplying components for most of the leading engine, transmission, pump and equipment manufacturers.

During its 30-year history Prior Diesel has established strong relationships with many of the world's leading oil service companies both in the North Sea and beyond.

Joint Managing Directors of Prior Diesel, Chris Conroy and Gordon MacLean, together with founder and Chairman Archie MacLean, will remain with the business.

"This new strategic relationship with Suretank is an exciting and important move for Prior Diesel," explained Chris Conroy. "It represents an opportunity for the business to grow and develop into new markets by taking advantage of Suretank's strong global presence and marketing reach to strengthen our brand and reputation."

Gordon MacLean added: "With our worldwide reputation for quality engineering and first class customer service, combined with a highly skilled experienced team, we have a very clear fit with Suretank."

John Fitzgerald, CEO at Suretank, added: "We are delighted to welcome Prior Diesel into the Suretank family as we continue to develop Suretank as the leading global provider of engineered solutions to the offshore oil and gas industry with the support of Ulster Bank. It will be business as usual - only better - at Prior Diesel. We do not anticipate any changes in how we do business operationally, but will continue to strive to strengthen and develop all aspects of Prior Diesel's customer centred solutions.

"We welcome on board a group of passionate and experienced professionals at Prior Diesel who have built a reputation for delivering quality customer led solutions, that share our belief in global opportunities and our commitment to the highest standards of customer service, product safety and quality to our many respected clients in the offshore industry," continued John Fitzgerald.

Suretank is a global leader in the supply of tanks and CCUs (Cargo Carrying Units) to the offshore oil and gas industry. The company has design and manufacturing facilities in Ireland, Brazil, China, the Netherlands, Poland, Thailand, UK and USA as well as sales offices in Australia, Malaysia, Nigeria and Norway.

Adapted from press release

Published on 05/01/2015

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