Score Group to be snapped up by private-equity firm for 140m euros

Founded by Charles Ritchie in 1982, the firm, which is now Peterhead’s biggest employer, has remained family run for decades.
But now Score is set to look to the future as SCF Partners are preparing to buy the business from the Charles Ritchie Family Trust, which was set up in the wake of the founder’s death.
The Trustees, made up of his wife and sons, said they saw it as their duty to deliver his ambition of securing long-term prosperity for the business, its employees and the local economy.
And last night the private equity firm pledged to continue to support the company’s global growth and insisted they remain committed to Peterhead and the north-east economy.
Score Group currently turns over 235 million euros with work across 14 countries, employing 1,900 people with more than 800 in the north-east.
Having steered the business through the period following Mr Ritchie’s death, the board – led by chairman Keith Cochrane – and the trust set out to find a buyer who would respect the founder’s legacy.
Mr Cochrane said; “In SCF Partners, we have found a buyer that understands Charles’ ambitions for the business. These were to ensure the long-term growth of the company, creating and safe-guarding opportunities for its employees and maintaining its positive impact on the north-east of Scotland.
“SCF Partners will provide capital to enable Score to continue investing in its services and growing its global footprint.
“Crucially, this deal will maintain Score’s independence as a market leader in the supply and repair of valves to the oil and gas, nuclear and marine industries.”