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Costain buys Aberdeen oil and gas firm for £10.6m

01 Aug 2013
The oil and gas sector has seen a boost of £10.6 million from construction company Costain’s acquisition of Aberdeen-based project manager EPC Offshore.

EPC provides services to oil and gas companies operating in the North Sea, and employs 75 people, and its acquisition will boost growth for the company.

The firm will be combined with its ClerkMaxwell subsidiary to create a division called Costain Upstream. Costain has paid £9.6m for the business, plus a further £1m for ‘excess cash’, but further payments may be due depending on its financial performance over the coming years.