Workplace safety secured in EPIC acquisition

Superyacht security specialist Marine Guard acquired offshore safety specialist Exploration & Production Information Company (EPIC) in a move to diversify into new global markets.

Overview

Southampton-based Marine Guard is the global market-leading security system partner for the largest private superyachts. Founder Richard Webb and CFO Emma Hills completed a strategic review to diversify its customer base, and identified Aberdeen-based EPIC as a potential acquisition.

SME Capital agreed a bespoke five-year debt facility to support the acquisition and refinance other commitments.

EPIC emerged as a solution by Ian after 1985’s Piper Alpha oil and gas rig caught fire, killing 165 crew on the rig. EPIC’s Smart-Trac software tracks personnel movements offshore, controls access, and coordinates e-mustering in the event of evacuation.

Smart-Trac is used by majors including Total, Petronas and Occidental, and is also used in other safety-critical environments such as ports.

The problems (challenge)

Ian was 73 when he decided to explore selling EPIC for personal reasons, and wanted to ensure the pioneering safety software he invented continued to protect men and women in hazardous environments in perpetuity.

Marine Guard had already organically diversified in 2017 by developing crew vetting SaaS platform CrewPass. In 2022, the acquisition of EPIC offered entry to a new niche in the maritime/offshore safety market

EPIC entered informal discussions with Marine Guard, and sole EPIC shareholder Ian Traquair hired CapEQ’s Mark Sapsford to handle the sale process

CapEQ took on EPIC because the company helps energy employers keep staff and contractors safe in hazardous environments. Finding a new home for the business also safeguards 20 jobs in NE Scotland

EPIC revenue grew 17% in the first year under new ownership, with two oil majors rolling out Smart-Trac across offshore sites worldwide

“After 46 years in the offshore industry, it’s been a privilege to work with so many talented people dedicated to looking after offshore personnel who work in difficult and often hostile environments.

“The combined talents and experience of EPIC and MarineGuard staff will provide a solid base for growth and development meeting current and future innovative challenges. Both companies are dynamic, and joining forces will diversify our combined customer base, provide technological and financial advantages to our customers, as well as open up new career paths for staff as the global economy transitions.”

Ian Traquair

EPIC founding Managing Director,

The solution

With negotiations about to begin and a potential acquirer in place, CapEQ had three overlapping advisory roles: helping Ian prepare for the business sale process and documentation required; researching rival acquirers should talks with Marine Guard break down; and negotiating the price, terms and payment structure so Ian could leave EPIC upon completion.

On Marine Guard’s side, they needed a specific target company to trigger the debt financing by SME Capital, and several meetings to fully understand the nuances of the dynamics of EPIC’s customer base, and of course management succession.

Despite the lack of obvious synergies, Marine Guard CEO Richard Webb noted at the time that: “It was remarkable to see the core product similarities despite the differences in end application. The more we talked the more evident it became that the two businesses could benefit one another.”

Post-deal integration went smoothly, with EPIC posting a 17% sales increase in the first full year under new ownership, as well as moving headquarters to a larger office in the market town of Inverrurie – 16 miles west of Aberdeen.

The parent group was reorganised into three business units – Marine Guard, Crewpass, and EPIC – employing 54 in total. In 2027, the acquisition debt will be paid off, but more importantly, EPIC is in safe hands right now… just as Ian wanted.

EPIC was advised by CapEQ Corporate Finance (Mark Sapsford) and law firm Vialex (Andy Lowe, Scott Paterson). MarineGuard was advised by Prism Corporate Broking (Peter Watson), law firm BDB Pitmans (Duncan Walker, Ross Fletcher) and consultants RSM UK Debt Advisory (Gregory Moreton, Jack Williams, Michelle Harris, Omar Kader).

In this video, we explore Ian Traquair’s inspiring 40-year journey to enhance offshore worker safety and the story behind his company, EPIC POB. After witnessing the tragic 1988 Piper Alpha oil rig fire, Ian developed EPIC to improve workforce protection offshore.

A must-watch for founders and entrepreneurs seeking inspiration on timing, transitioning, and finding purpose beyond business.

We'd love to hear your story

Let's chat about your future plans. We can help you get clear on where your business journey is going.

book a chat with mark sapsford