Acquisition Adds Valves Value For EnerMech
EnerMech is expanding its valves division with the acquisition of the UK valves business of Denholm Valvecare (DV).
The global integrated engineering services group has acquired the UK trade and assets of the valves division of family-owned Denholm Oilfield Services for an undisclosed sum.
EnerMech expects its UK valves business to generate around £7m revenue in 2018 following the deal, which will see all DV valves equipment, inventory and an estimated 25 staff transfer to the Aberdeen-headquartered business.
EnerMech Chief Executive Officer, Doug Duguid, 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."
The acquisition will also bolster EnerMech’s UK valves management team with the addition of a number of senior DV staff who are well-respected in the valves services sector.
EnerMech supplies a wide range of relief, isolation, control and general valves to the onshore and offshore energy industry and wider industrial services sector. A fully integrated valves service includes the procurement, specification, inspection, testing and quality control which minimises shut down and installation schedules without comprising on safety or quality.
The deal follows on from EnerMech’s acquisition last year of maintenance, inspection and integrity specialist Minteg Ltd and the purchase of Australian and US-based EPS Group which provides electrical and instrumentation services to major infrastructure and power projects.