The Press and Journal (Inverness, Highlands, and Islands)
“Scotland’s oil and gas industry know-how is renowned
should ideally be based upon key factors, including: potential industry growth; understanding of commercial/ contractual risks; ability to cross sell services; and the opportunity to leverage extended geographical footprint. Proving expertise in a new sector can also be challenging which is why M&A can offer an attractive route to market.
Careful integration planning is key to successful diversification, as well as significant investment of time and energy.
To unlock the full value from an acquisition it is essential to establish the right team that can design the operating model, with full access to information from both companies.
These deals typically create value from overhead cost reductions and the benefits that come from bringing together complementary portfolios.
This in turn provides more resources, better skills and a broader talent base, while reducing commercial risks, building on contacts and delivering the all-important competitive edge.
For larger organisations it also allows for more specialisation, which drives functional excellence.
Scotland’s oil and gas industry know-how is renowned.
Such assets have considerable potential in helping to solve the challenges of a range of other industries, particularly those emerging sectors where processes are still being optimised and supply chains are not yet well-established.
As the energy transition evolves, so too does the opportunity for services companies to expand into the broader industrials sector and service the power generation and distribution market.