Energy firm in deal to buy Norwegian player

A recently launched Aberdeen-based oilfield services company has acquired a Norwegian firm in its third acquisition deal to date.

Three60 Energy, which is backed by energy specialist Simmons Private Equity, has acquired Stavanger-based Ridge, which provides engineering and consultancy services mainly in the Norwegian North Sea.

It joins Kuala Lumpur-based Leap Energy and Aberdeen- headquartered Step Change Engineering in the Three60 Energy group.

Walter Thain, chief executive of the group’s North Sea business, said: “This addition to our overall service capability is extremely timely as we look to consolidate our offering with capability in subsurface, drilling and facilities in conjunction with geographic expansion.”

Three60 Energy said it is in active discussions with a number of other companies with a view to them joining the group.