Simmons Private Equity II (SPE II) is the successor fund to Simmons Parallel Energy. It has been set up to invest in small– to medium–sized companies that predominantly operate in the oil and gas services industry. The SPE II strategy is to provide capital to support a "buy-and-build" strategy, creating groups with a differentiated and simplified offering to its customers. SPE II will lead investments but will typically seek a co-investment partner and/or significant management participation. It is also managed by Parallel General Partner Limited with Piper Sandler providing portfolio advisory services. The fund size is £127 million.
Current Portfolio Companies
Starn Group is focused on safety and provides a portfolio of technology-led products and services engineered to protect people working in hazardous environments. Such environments include offshore and onshore oil and gas production facilities, shipping and other marine assets, chemical processing plants, distilleries and food production and processing factories, utilities and water treatment works.
Starn Group undertakes work around the globe from regional hubs located in the U.K., UAE, U.S., Australia and Malaysia, as well as through various international partners.
Safehouse specialises in the rental and sale of ATEX-certified hot work enclosures for use in potentially explosive (Zones 1 and 2) atmospheres, enabling operators to perform maintenance adjacent to live operations and minimising shutdown periods. The Safehouse system offers two key properties: (i) containment – ensuring that grinding sparks and/or welding slag have no possibility to escape from the enclosure and (ii) pressurisation – overpressure that acts as a barrier to prevent the ingress of gaseous hydrocarbons. The investment was made in January 2014.
Sabre Safety primarily provides hydrogen sulphide (H2S) detection and protection services to the oil and gas industry as well as supporting breathing air systems for decommissioning work and shutdown operations. It also provides fire suppression systems and consultants. It was established in 2001 and has a strong reputation in the North Sea and international markets for enabling safe operation of assets. The investment was made in February 2017.
Pryme Group provides a turnkey service for global contract manufacturing, combining high-quality machining with design capability, hydraulic services, fabrication, assembly, testing and project management across five operational centres.
Although each of its operational facilities continue to work autonomously, Pryme brings them together to provide a much broader, integrated contract manufacturing service. This gives its customers a much wider range of options in the scope of outsourced manufacturing, as well as removes the inefficiencies of dealing with multiple vendors.
GA Engineering (Group) Limited
GA is a Dundee-based high-quality precision manufacturing business, which serves the oil and gas industry with a small element of diversification into the automotive, aerospace, electronics and medical industries. GA has been in business for more than 20 years and has built a longstanding customer base of oil and gas service companies, including the major equipment manufacturers. The investment was made in November 2014.
The MWK Group
The MKW Group consists of three complementary engineering businesses serving the oil and gas, industrial and defense markets, operating from a base near Newcastle. The MKW Group has a solid reputation with several longstanding customer relationships and has developed a "one-stop-shop" in the provision of a wide range of integrated subcontract engineering services. The investment was made in September 2015.
SengS Subsea Engineering Solutions
SengS is an Ellon-based engineering company providing subsea engineering design consultancy, equipment testing and assembly, repair and refurbishment and rental of certain subsea equipment. It was the third acquisition for the platform, completed in November 2016, and accelerates the strategy of building an integrated contract manufacturing solutions provider.
Hydratron is a leading supplier of high-pressure and flow control equipment to the global oil and gas industry. It manufactures and supplies bespoke products worldwide, including high pressure air-driven liquid pumps, gas boosters and associated systems. Located in Altrincham, near Manchester, the company was founded more than 35 years ago and has a comprehensive partner network in North America, the Middle East, Southeast Asia and Australia, increasing Pryme Group’s presence across the oil and gas, aerospace and defence sectors. The investment was made in June 2018.
The Seanamic Group combines in-depth engineering and equipment manufacture with the inspection and integrity assurance of critical subsea and marine related assets. The Group is focused on providing a leading international products offering in the niche and fragmented area of vessels to subsea, from handling and deployment systems to SURF-related equipment. It also provides related inspection, monitoring and engineering solutions.
Seanamic provides its services across the international energy, defence, oceanographic and seismic industries.
Caley Ocean Systems Limited
Based in Glasgow, Caley engineers, designs, assembles and commissions bespoke marine handling systems for the offshore industry. Its main product lines are carousels, vessel handling systems, tensioners and davits. Operating since 1967, Caley's success and reputation is due to its significant engineering know-how and extensive track record that enables it to develop solutions to meet customer challenges. The investment in Caley was completed in September 2014.
Umbilicals International Inc. - Exited
Based in Houston, UI manufactures specialist application cables, marine umbilicals and connection systems, primarily focused on the upstream oil and gas industry. The company operates through two main divisions; umbilicals international and geocables. The investment was completed in March 2015 and Seanamic Group exited the business to Champlain Cable in February 2021.
IMES International Limited
IMES is an inspection and monitoring engineering solutions company. It provides bespoke monitoring and load measurement systems, as well as inspection, test, repair and maintenance service expertise for cranes, lifting gear and other specialised handling structures. IMES has a long heritage and strong reputation for service/product quality. The investment was made in August 2016.
The company is headquartered in Aberdeen with additional offices in Plymouth, Portsmouth, Rosyth and Sheffield.
Flexlife specialises in the engineering, inspection and repair of flexible pipe and umbilical assets for the subsea sector of the oil and gas industry. Flexlife owns patented technology which enables the provision of a number of innovative products and services on the market in the field of asset integrity management. The investment was made in October 2017.
Three60 Energy is a global upstream consulting and engineering group. The strategy is to build a portfolio of niche engineering consultancy providers which when combined, will drive operator efficiency, safety and productivity across the entire lifecycle of oil and gas assets in different geographies.
Established in 2008, LEAP Energy is an international subsurface and technology consultancy that delivers services through its operational offices in Malaysia, Australia and Europe, with representative offices in India, Indonesia and the Middle East. Besides the core activities of reservoir studies and M&A advisory, LEAP Energy is a recognised technology innovator in mature field production optimisation and delivers predictive analytics for conventional and unconventional reservoirs. The investment was made in November 2016.
Step Change Engineering
Based in Aberdeen, Step Change Engineering specialises in the provision of design, engineering and project management services in relation to brownfield projects and the repair and modification of topside oil and gas facilities in the UKCS. Step Change is recognised in the industry for its streamlined approach towards service delivery, differentiating itself from competitors with the speed and cost at which it can provide key deliverables. The investment was made in January 2018.
Established in 2011, Ridge specialises in the provision of engineering and consultancy services in the subsurface, drilling & wells, subsea and facilities disciplines mainly in the Norwegian North Sea. The company has established a sound track record with its client base including around 20 major oilfield operators, with projects delivered by a team of more than 90 specialist engineers. The business completed the acquisition of Ocean Maxwell in December 2017, adding engineers with subsea, subsurface and facilities capabilities and enabling Ridge to provide a wider spectrum of services to clients in Norway, Denmark, the U.K. and Singapore. The investment was made in August 2018.