Originally founded in 1950, Sparrows diversified into offshore services when Britain’s North Sea oil industry boomed in the 1970s. Today the Aberdeen group has 16 bases worldwide, providing specialist services such as crane operation and manufacture of pipe and cable-laying systems. It is backed by Close Brothers Private Equity, which bought the firm from LMS Capital in a £142m deal, and is led by chief executive Doug Sedge.
|Company||Sparrows Offshore Group|
|Activity||Offshore services provider|
|Operating profit £m||10.6|
|Main shareholders||CBPE Capital (70%), management (30%)|
* supplied by Company † annualised figure ‡ profit = ebitda