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MSIS Group

MSIS specialises in the provision of environmental and waste management services, predominantly to the global oil and gas industry. The Company operates through two trading divisions:
– Oilfield Services, based in Inverurie near Aberdeen, focuses on specialist cleaning and environmental services, in addition to clean-up equipment sales and rental to the oil and gas industry. This division represents approximately 73% of group revenues; and
– Industrial Services, based in Invergordon near Inverness, provides specialist cleaning services to the utilities, distilleries, construction and general industrial sectors, representing 27% of revenues.

Background

Since its launch in 1998, MSIS has grown to become an independent and trusted adviser to the offshore oil and gas sector and onshore industrial sectors, offering an increasing range of specialist skills, equipment and services. The company which employs 80 people has a proven track-record in specialist cleaning, waste management and market-leading best practice. Over the last two years, the rapidly expanding company has made substantial investment in equipment and facilities at its bases in Invergordon and Aberdeen.

The Big Idea

In late 2014, MSIS decided to seek private equity investment to help with its ambitious growth plans to extend its service offering to capture a larger share of the North Sea market and further develop its presence in selected international offshore markets.  Management quickly decided to work with Primary as they were seeking a supportive partner and the deal was completed in June 2015

The Grand Plan

The business has a very well established and recognised track record of providing specialist, high quality and professional service to customers.  It is keen to further extend that with the acquisition of complementary environmental service businesses, offering customers an even wider range of services.  Management are also excited by the opportunity to establish new overseas offices to act as hubs for Middle East and West Africa regions.

The Bottom Line

MSIS is a fast-growth company, with the opportunity to expand its range of services in this very niche sector.  It is already the largest independent, specialist waste management player in the sector. As the last remaining independent provider of specialist environmental services, its competitors all being subsidiaries or divisions of larger corporate groups, MSIS is a strategically important asset.

MSIS logo

Investment Summary

Date of investment:  June 2015
Deal status:  Current

Company website: www.msisgroup.com
For more information talk to:  Iain Wolstenholme or Graham Heddle

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