North-east engineering firm ups sales target on contract wins
A subsea engineering services business acquired by a private-equity backed manufacturer last year has secured new contracts worth £1.6 million.
Ellon-based Sengs, now part of the Pryme Group, will design, manufacture and install various pieces of test equipment for the onshore and offshore assets of several North Sea oil and gas operators and service companies.
Further afield, the firm has been tasked with the completion of a subsea design project in Tunisia.
The latest contract wins, secured over the past two months, follow repair and maintenance projects worth in excess of £600,000 that were announced in May.
Having increased turnover from £1.7m to £2.1m in the past financial year, the business has revised its growth projections upwards and is now forecasting revenues of more than £3m by next March.
Sengs, which currently employs 21 people, expects to recruit further personnel, having already added four employees since the turn of the year. Murray Kerr, who founded the business in 2012, recently took on the role of group strategic commercial director at Pryme Group.
He said: “With the support of our sister companies, we have been able to complement Sengs’ existing engineering and testing knowledge and expertise with fabrication, machining, coating and painting capability.”