Aberdeen headquartered engineering consultancy Project Development International (PDi) has been acquired by Tattva International Holdings.
Tattva International, based in Singapore, is a part of the India-based Tattva Group.
The acquisition sees Tattva International take full ownership of all PDi assets from the Ceona Group which is currently in administration.
Commenting on the sale, Mark Gillespie, managing director at PDi said: “We are delighted to have a new owner who is aligned with our vision and strategy for the business, helping drive the firm’s growth and build on its successful track record.
“This is a new chapter for PDi, but it is still business as usual with our existing customers and we will continue to operate as an independent engineering and project management service provider.”
As part of the deal Gillespie will continue in his role as managing director, with Mark Preece, former Ceona CEO, appointed as executive vice chairman.
Gillespie continued: “We are delighted to be continuing to work with Mark (Preece) who has good knowledge of PDi, its clients and the range of services we offer oil and gas companies and contractors. We have no plans to change our offering, name or branding, and we look forward to being part of a wider growing international oil services group.”
The transaction was handled by Simmons and Company, based out of Aberdeen, Scotland.