Vysus Group is preparing for a period of sustained global growth following the completion of its restructuring programme that has seen the divestment of several non-core businesses, senior appointments, and a reorganisation of its business model.
The global firm, which provides technical and regulatory consultancy and technology solutions across the energy, complex process, grid, and infrastructure sectors, confirmed the sale of its ModuSpec business earlier in the month. The divestment was the fifth such move in less than four years in a strategic decision focused entirely on expanding its international consultancy business, in line with the long-term business plan.
The Aberdeenshire headquartered consultancy, which has a permanent presence in 15 countries and is active in all key global energy hubs, is now targeting a 15% growth over 2023 revenue levels and expects to recruit more than 40 people into technical roles over the remainder of 2024.
David Clark, Chief Executive Officer of Vysus Group said: “We have been through an accelerated period of change over the last three and a half years to ensure that we have a robust business from which to deliver sustained global growth over the long-term.
“The divestment of ModuSpec marks the completion of our restructuring and we are now in a strong position to capitalise on opportunities across the energy mix. The move will create new job and career development opportunities. We see particular opportunities to capitalise on our internationally renowned experience in hydrogen, renewables, and nuclear.
“These changes have also benefited the divested organisations which are now under the ownership of companies fully focused on their respective markets which will not only help with business growth, but also open up new opportunities for the team.”
Vysus leverages its deep domain and risk expertise to help companies navigate the increasingly complex, integrated energy landscape to minimise risk and optimise performance across the asset lifecycle.
The approach has seen the company significantly reduce its reliance on oil and gas while expanding its market share across the renewables, low carbon, grid and complex process industries.
While the company has been involved in nascent transition and renewables solutions for a number of years, it continues to build on this, leveraging the expertise of industry leaders including Dr Kees van Wingerden, renowned in the hydrogen sector with more than 45 years of experience. Recent appointments made to support the restructure include Qatar-based Khaled Hamd who joined as Vice President Consulting for the Middle East and India and the creation of similar roles for Europe, the Americas, and Scandinavia.
Mr Clark added: “While supporting oil and gas clients remains a core part of our business, we see continued growth within wider sectors.
“Our extensive grid expertise for example is a differentiator and one where there is significant demand for our services. As demand for renewable energy soars, energy and utility companies are having to navigate an ever more complex, segmented, and regulated environment where grid access in some regions is already near capacity.
“We have welcomed industry heavyweights to our senior team and strengthened how we support each region with the deserved promotions of key members of our team. We have a bright future ahead of us at Vysus and an innovative and highly capable team supporting clients across the full energy spectrum.”
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Published: 13-03-2024