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AMEC plc is set to acquire a technical engineering company serving the in-situ heavy oil, gas and oil production industries in Canada, where it has existing operations.
The purchase of Bower Damberger Rolseth Engineering (BDR), expected to complete later this month for a cash sum of C$45 million (£22 million), marks the exit of BDR’s owner-managers.

The payment comprises C$10 million (£5 million) deferred over three years and a further maximum of C$35 million (£17 million) payable in five years dependent on the attainment of profit targets.

BDR specialises in the recovery of in-situ oil deposits that lie too far beneath the surface for access via open-cast mining methods. The thermal recovery of those deposits is enabled with steam assisted gravity-drainage facilities developed by the Calgary-based firm. As such, it will enhance AMEC’s Natural Resources division in Canada where the company has been active in oil sands since 1967.

AMEC plc is a supplier of consultancy, engineering and project management services to the world’s energy, power and process industries. With operations spanning natural resources, power and process and earth and environmental sectors in more than 30 countries, the business employs 20,000 people worldwide and cites annual revenues exceeding £2.3 billion. AMEC trades on the London Stock Exchange where the company is listed in the oil equipment and services sector.

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