EnerMech – the low-profile Scottish energy engineering services multi-national conglomerate – has expanded its global operations with another major acquisition in Australia.
Aberdeen-based EnerMech – which provides crane and valve services, hydraulic equipment and pipeline and umbilical services – has now also moved into the electrical and instrumentation (E&I) sector with the acquisition of EPS Group in Australia and the Americas.
The value of the deal – EnerMech’s biggest take-over – was not disclosed and additional funding was provided by its corporate bankers, the Bank of Scotland, HSBC, DNB and equity partners Lime Rock.
The EPS Group employs 250 people in Sydney, Melbourne, Brisbane, Darwin, Houston and Louisiana, and has annual revenues of more than $85 (Australian)million. The company specialises in E&I, hazardous area inspection, high voltage testing and mechanical services for oil and gas, metals, utility and infrastructure projects.
EPS managing director Paul Buckley and fellow directors John Cox and Brett McGrane will remain with the group and have consequently also become shareholders in EnerMech Group.
EnerMech has 2,300 staff working across its global business and the EPS acquisition paves the way for providing a more focussed integrated services offering ideally suited to the downstream and offshore industries.
Doug Duguid, EnerMech Chief Executive, commented: “Our build-and-buy policy means we now have a mature, stable business with a truly international footprint that can offer genuine technical depth, delivered by industry professionals with operating experience second to none.
“We are now an organisation of substantial scale and have the resources to deliver a tailored, integrated package to operator and service companies in the world’s main energy territories.”
The group is headquartered in Aberdeen with other UK bases in Great Yarmouth and Bristol, as well as Abu Dhabi, Saudi Arabia, USA, Singapower, China, India and South Africa.