EnerMech has expanded its international presence within the cranes, lifting and valves sectors following two acquisitions in the USA and Africa, moves that are expected to boost turnover by around £25m over the next three years.
The group has acquired Louisiana-based Diversified Oil Field Service Inc (Diversified) and Cape Town business Control Valve Technology (CVT) for a combined £4m.
US firm Diversified specializes in carrying out crane inspections, repairs and other maintenance services for the offshore industry throughout the Gulf of Mexico.
The business also handles hydraulic repairs, testing and design, equipment rental and cranes sales.
According to EnerMech, this acquisition is a “strategic move” to develop the company’s crane offering in the USA, Mexico and other 3 American countries.
In addition, the move will help create a number of new opportunities for EnerMech’s business lines that include hydraulics, hose integrity management and equipment rental. Diversified’s president Stan Elmore, co-owners Nathan Charrier and Ernie Guth and the firm’s 20-plus staff all remain with the company while its cranes business line will continue to operate from its 17,000 sq ft facility based in Slidell.
There are also plans to open a second Louisiana base at Lafayette to enable the company to service central Gulf of Mexico operations.
EnerMech’s acquisition of Cape Town-based CVT forms part of a three-year £20m investment programme designed to build a “strong infrastructure” across Africa that has already seen the company acquire cranes and load testing business Water Weights International SA. CVT specializes in the servicing, refurbishment and sales of control and safety valves that are used in the energy, mining and petrochemical industries.
The company currently has a number of long-term customer relationships that have involved the completion of projects in South Africa, Angola, Nigeria, Ghana and the Middle East. The firm’s 19 staff and owner Stephen David will move to EnerMech while David will lead EnerMech’s valves operations in Africa, alongside newly appointed Regional Director Jean François Roche.
Commenting on the two deals, EnerMech chief executive officer, Doug Duguid, says the acquisitions will extend its service provision in the US and Africa, both of which are “extremely important regions” for its future growth.
He said: “Both businesses are profitable and highly respected in their sectors and combined with EnerMech’s more developed infrastructure and fiscal strength, they will be key building blocks as we expand our cranes and lifting services in the Americas and our valves operations and across sub-Saharan Africa. “Our philosophy of establishing a strong local presence and infrastructure, using wherever possible the skills of a local workforce, and investing in training and the latest equipment, will bring long-term dividends both for us and our clients.” Aberdeen-headquartered EnerMech employs more than 2000 staff across 30 locations and expects 2014 revenues to exceed £280m.
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