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LIVE

Sunday, 20 July, 2008, 21:00 GMT | more prices >>

Dominion thinks big with Global Gas deal

By Upstream staff

Aberdeen-based offshore supply outfit Dominion Gas has bought Global Gas Supplies in a £22 million ($44 million) cash deal.

Dominion said the move boosts its international scope, adding offices in Baku, Singapore and West Africa to its UK and Norway bases.

Funding for the deal came from Graphite Capital and RBS Structured Finance.

Keith Pirie, former owner of Global Gas Supplies, joins the Dominion Gas board as international sales and business director. Pirie will also be a shareholder in the new entity.

Dominion boss George Yule said: “This is an extremely positive and exciting acquisition for Dominion Gas positioning the company as the market leader in the diving gas industry."

Pirie added: "The company is now the only Scottish-based independent industrial cylinder gas specialist supplying the full range of diving, welding, industrial, laboratory, test and calibration gases.”