Calash is pleased to announce that it provided vendor commercial due diligence to Inflexion-backed PD&MS, a multi-disciplined engineering company, in support of its sale to sustainable solutions provider RSK Group.
The Aberdeen-based company provides specialist services for the oil and gas, renewables, and wider energy and industrial sectors. Inflexion completed its secondary buyout of the business in 2014 via its Buyout Fund 2010, for which the sale of its interest in PD&MS now marks its final exit.
Calash provided vendor commercial due diligence on behalf of PD&MS, which included a review of its business activities, underlying commercial drivers across the conventional energy, renewables, and low carbon markets, a review of its addressable market, a competitive analysis exercise, a review of its business plan, and extensive customer and market referencing.
The Calash team included Rob Neves, Callum Evett, Mario Petrov and Iain Gallow.
“We see RSK Group as the perfect home for the business moving forward, owing to its world-leading expertise in environmental and sustainability solutions. This deal represents a landmark moment in the evolution of PD&MS and will enable us to significantly accelerate our growth in new energy markets, while continuing to support our conventional energy clients to maximise economic recovery and play a pivotal role in their energy transition journeys.”
Simon Rio, CEO, PD&MS
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PD&MS has been operating since 2002. Synergie Environ and Optimus joined PD&MS in 2021 and 2022, respectively. The business works with some of the biggest names in the energy industry, helping them to transition toward decarbonisation and net zero. With a second operations base in Azerbaijan, PD&MS has a headcount of more than 700 professionals, offering full-life-cycle solutions in consultancy, engineering, procurement, construction, commissioning and decommissioning. Its annual turnover in FY22 was £84.1 million.
RSK Group is a global leader in the delivery of sustainable solutions. Its family of more than 200 environmental, engineering and technical services businesses works together to provide practical solutions to some of the greatest challenges societies have ever faced. It operates in most sectors of the economy, including many of those most critical to future global sustainability, such as water, energy, food and drink, infrastructure, urban development, mining and waste. The group’s annual turnover at the end of FY22 was £796 million.