ENERMECH has spent around £4 million to snap up businesses in the United States and South Africa.
The Aberdeen oil and gas engineering company said the deals are expected to add around £25m of revenue over the next three years. In the US EnerMech has taken on Louisiana-based crane inspection and maintenance firm Diversified Oil Field Service Inc and more than 20 staff. The Scottish firm said that will help it to increase its crane presence in the US as well as provide a platform to target the likes of Mexico, Trinidad, Venezuela and Brazil. A plan to open a second Louisiana base, probably at Lafayette, to target Gulf of Mexico operations is being considered. In a separate transaction safety valve firm CVT, which has its main base in Cape Town, has also been acquired. EnerMech says that deal forms part of its £20m plan to build up operations across Africa which has included buying load testing and crane business Water Weights International as well as setting up in Nigeria, Ghana, Angola and Mozambique. EnerMech chief executive Doug Duguid said: "Both acquisitions will extend our service provision in the US and Africa which are both extremely important regions for our future growth. "At the same time, adding Diversified and CVT to our portfolio gives us an excellent platform to introduce our other services to their respective client bases.
"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."
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