Energy and infrastructure group Global has acquired a controlling stake in project management and controls company Prism Energy.
Aberdeen-based Prism said Global’s investment should help develop its technology as its targets sectors such as renewables, data centres, utilities and defence.
Founder Andy Sutherland and his team of 40 will remain with the business as part of the investment.
“After 10 years of growth, we feel that this is the perfect time to welcome outside investment to fuel the next stage of our growth journey,” said Mr Sutherland.
“We have enjoyed long term working relationships with companies in the Global portfolio – including Apollo and Aventus Energy (Global Energy Solutions) – so there are clear synergies and we share a similar business culture.
“We look forward to the cross-sectoral and regional growth opportunities that will be created by becoming part of a larger group.”
Gordon Farmer, director at Inverness-based Global, commented: “Our investment in Prism Energy is the latest example of Global building connected capability that genuinely supports our clients and the sectors we support.
“Andy Sutherland and his team have earned an excellent reputation in the project management sector – particularly across the energy markets – and Prism Energy are at the forefront of a quickly evolving market for digital project management tools and support.
“We look forward to exploring synergies and anticipate Prism expanding its reach and diversifying into the renewables, infrastructure, nuclear, utilities, data centres and defence markets – where Global enjoys both an established, and growing, presence.”
Last year Global announced a rebrand and plans for a 2,000 sqm headquarters at the Inverness Campus Freeport Zone.
Building on the acquisition of six companies in the past year, the group is aiming to grow turnover from £300m to £500m over the next three years.
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