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Scottish Energy Co powers into Latin America

Category: Scotland Success Stories — Gary Cain on December 20, 2011

A Scottish energy services company has made a move to set up shop in Latin America, through an audacious US acquisition.

Mustang, a US subsidiary owned by the Aberdeen based Wood Group firm has taken the controlling majority of ISI Solutions, in a deal with an initial worth of £3.3m ($5.2m).

The deal will see ISI, an engineering and consulting services company to the oil and gas, power and pipeline industry, rebranded as ISI Mustang. This will retain familiarity in the Latin American region as well as present the new force behind the operations.

Operating under the umbrella of Mustang’s existing automation and control arm, the move underlines the ambitious growth plans the company has.

ISI already has a strong presence in Latin America, so the deal will provide a strong foundation from which to build. The deal also shows Scottish companies what can be done by having the right strategy in place, even in tough local and global economic conditions.

A number of Scottish companies have found an increasing need to re-evaluate their finances over recent years, with many making cutbacks at all levels. However, many others have decided that factoring presents them the best chance to move forward and shore up their core business without having to sacrifice staff or services.

From Edinburgh to Glasgow, factoring companies are providing Scottish business with the time and funding they need to breathe.

For their part, Mustang will likely target Argentina and Mexico first, as the country is increasingly representing a strong economic growth. Largely fuelled by the recent well reported successes against drug barons throughout Latin America, it is certainly an area rich for tapping into.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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