Metal firm John Lawrie Group bought out by management
- Published
Aberdeen-based scrap metal and oilfield decommissioning specialist John Lawrie Group has been bought by its management as it gears up to expand its business in the UK and USA.
The deal, involving four senior managers, was backed by investment firms Rubicon Partners and Grovepoint.
The firm, which also supplies steel tubulars, was founded in Aberdeen in 1930.
It now has bases in Montrose, Evanton near Invergordon, and Houston, USA.
The company was bought from the majority shareholder, the Meldrum family, which had owned the business since the 1980s.
The purchasers included chief executive Vic Sinclair, financial director Charlie Parker, operations director Dave Weston and tubulars director Iain Laing.
'Exciting new era'
In a statement, the company said it had identified "opportunities for growth" across its three divisions, with North Sea decommissioning remaining a key focus for the group.
Mr Sinclair said: "The commitment of the senior management team has helped make John Lawrie the industry leader it is today.
"We enter this exciting new era as a financially strong and ambitious business backed by new investors who will help us drive further organic growth in both the UK and USA across all three of our divisions.
"We also intend to pursue new markets, including through acquisitions, in this partnership with Rubicon and Grovepoint."