$1bn turnover recruiter buys in Norway
NES Global Talent, the international recruiter specialising in oil and gas, manufacturing and construction, has acquired a Norwegian oil and gas staffing business for an undisclosed sum.
The company, which is headquartered in Altrincham and employs 550 staff across 45 offices in 28 countries, has been owned since 2012 by US based AEA Investors. Last year it reported annual revenues of more than $1bn US.
It has entered into a definitive agreement with Akastor ASA, an oil service investment company, to add its Frontica Advantage (Advantage) business to its portfolio, with Akastor becoming a shareholder in the combined company.
Tig Gilliam, chief executive of NES Global Talent, said: “With this acquisition, we look forward to bringing the full resources of NES to Advantage clients on a global basis. In this most challenging market for energy clients, geographic scope and breadth of capability is essential to deliver operational excellence and efficiency to our contractors and clients.
“Adding Advantage to the NES proposition further strengthens our leading position in the human capital solutions market for top engineering talent”.
Kristian Røkke, chief executiveof Akastor, said: “NES and Advantage are complementary businesses and form a powerful combination that will benefit our customers going forward with NES’s global operating platform.
“This transaction will create a larger, more diversified business that will be better positioned for a stronger future than could be achieved on a stand-alone basis.”
Advantage, a subsidiary of Frontica Group, employs 85 staff and is a global recruitment firm for the oil & gas market, providing contract and permanent recruitment, managed services, global mobility, and outplacement for over 12 years.
Founded in 1978, NES Global Talent provides a complete range of contract and permanent talent placements to the oil and gas, power, infrastructure, construction, life sciences, manufacturing and transportation sectors worldwide.
