Global Energy Group Sells Three Companies to Mitsui & Co. Europe

Global Energy Group (GEG) has recently finalized an agreement to sell three of its group companies, including The Port of Nigg, to Mitsui & Co. Europe, a subsidiary of Mitsui & Co, in collaboration with Mitsui O.S.K. Lines (MOL).

The acquisition encompasses The Port of Nigg, a versatile energy port and green freeport, Global Energy (Fabrication), a multi-site fabrication and manufacturing business, and Global Energy Services, which offers scaffold and access teams.

Following the transaction, Mitsui will hold a 51% stake in the three companies, with MOL owning the remaining 49%.

Strategic Investment for Future Growth

This strategic investment positions The Port of Nigg for its next phase of development as a key infrastructure asset in the UK’s energy transition, further solidifying its pivotal role in supporting the energy industry, including oil and gas and offshore wind sectors.

Mitsui has committed to additional investments in the site, aimed at expanding manufacturing capacity and quayside infrastructure to meet the increasing demand from various energy services sectors, catering to both the oil and gas and offshore wind markets.

Continued Services and Operations

Following the sale of the three business units, Global Energy Group, led by Roy MacGregor’s Inverness-based GEG (Holding) Limited, will continue to provide services at The Port of Nigg through its supply chain companies, Global Port Services, Global Crane Services, and Global Wind Projects, as well as offering labor on a project-by-project basis.

Additionally, the Aberdeen-based energy engineering company, Apollo, remains part of the Global Energy Group portfolio.

Future Outlook

GEG (Holding) Limited will retain the rights to the Global Energy Group name, synonymous with trust and quality in the energy services sector. The company will continue its operations from various locations, including The Port of Nigg, Invergordon Port Facility, and offices in Inverness, Aberdeen, and Edinburgh.

Roy MacGregor, Chairman of Global Energy Group, expressed pride in passing on the legacy of The Port of Nigg to Mitsui, emphasizing the importance of the facility in driving employment and prosperity in the Highlands.

Makoto Takasugi, Chief Operating Officer of Iron & Steel Products Business Unit at Mitsui, highlighted the company’s commitment to building upon the strong foundations laid by Global Energy Group, recognizing the strategic significance of The Port of Nigg in the UK’s energy landscape.

With this acquisition, Mitsui & Co. Europe and MOL are poised to steer The Port of Nigg and its associated energy services businesses towards a successful and sustainable future, underlining their dedication to the continued growth and development of the energy industry.