Aberdeen’s Enermech in fresh acquisition
Enermech, the Aberdeenheadquartered engineering services group, is expanding its valves division with the acquisition of the UK valves business of Denholm Valvecare for an undisclosed sum.
The Scots group expects its UK valves business to generate around £7 million of revenues in 2018 following the deal to purchase the operation from family-owned Denholm Oilfield Services.
Under the agreement with Denholm, all valves equipment, inventory and an estimated 25 staff are transferring to Enermech.
Doug Duguid, chief executive of Enermech, said: “The opportunity arose to acquire a well-established valves business which will upscale our existing UK valves business and offer economies of scale.
“Denholm Valvecare has a lengthy track record of success and enjoys many positive relationships in the industry. This deal adds value to existing clients of both businesses while giving us a strong platform to grow the service in the years ahead.”
Enermech supplies a range of valves to the onshore and offshore energy industry and wider industrial services sector.
The deal announced yesterday follows on from the group’s acquisition last year of maintenance, inspection and integrity specialist Minteg and the purchase of Australian and Us-based EPS Group, which provides electrical and instrumentation services to majorinfrastructureandpower projects.
Formed in April 2008, Enermech has a global workforce numbering about 3,000.