Dundee business acquired by Aberdeen energy giant in ‘transformative’ deal

Dundee business GA Engineering is under new ownership after an acquisition by an Aberdeen energy firm.

The specialist manufacturer, which operates from Tom Johnston Road, is part of the Pryme Group, which has been acquired by Three60 Energy.

GA Engineering also runs GA Sliding Head in Dundee, located at West Pitkerro Industrial Estate.

Pryme Group acquisitions

Founded in 2014, Pryme Group has grown through mergers and acquisitions into an innovative, engineered solutions business with a headcount of over 360 across 11 UK sites.

GA Engineering manufactures high-precision machined components ranging from 0.38mm to 80cm in diameter.

Its Sliding Head division specialises in the mass production of electronic wiring interconnector systems for aerospace and space applications.

It produces complex components with tolerances of 0.005mm and quality checks using state-of-the-art optical measuring equipment.

The Dundee business has invested more than £1 million on machinery in the past six years.

‘Transformative’ deal

Three60 said the acquisition of Pryme Group and Bridge of Don-based riser specialist Flexlife will turn it into a £200 million group with 1,000 staff.

Three60 chief executive Walter Thain said: “This is a really exciting time for everyone involved as we bring together the combined 50-year heritage of THREE60, Pryme Group and Flexlife to offer our customers innovative energy transition, engineering, operations, and project management solutions across the asset lifecycle.

“Our continued focus on oil and gas, nuclear, onshore and offshore wind, combined with our growing expertise in carbon capture and storage, hydrogen and geothermal, uniquely positions us as a trusted partner to support our customers across the integrated energy mix.

“We’ve created a £200 million group with the scale and capability to drive future growth, organically and through acquisitions.”

Pryme Group’s chief executive Kerrie Murray has become the chief financial officer of Three60.

She said: “This acquisition is truly transformative, not only for our customers’ operations, but also for our people.

“Together, we can leverage our technology solutions across the group, new sectors and geographies, to unlock opportunities and add value.”

The acquisitions are subject to regulatory approvals. Simmons Private Equity is the majority shareholder of both Pryme Group and Three60 Energy.