EnerMech Makes £10 Million Australian and U.K. Acquisitions

MarineLink.com
Tuesday, July 23, 2013
EnerMech finance director Michael Buchan (left) with Vicon Services managing director Niall Conlon, outside Vicon's new Perth base which is under construction.

Oil and gas engineering company EnerMech snapped up Australian industrial sector firm Vicon Services and U.K-based pump equipment specialist Total Reclaim Systems Ltd., in deals worth a combined £10 million.

The Aberdeen-based mechanical engineering group will introduce new business lines and significantly strengthen its presence in the multi-billion dollar Australian energy sector through the Vicon deal. The acquisition of Total Reclaim Systems (TRS) increases the range of services EnerMech can provide to the drilling sector.

With more than 100 staff across another five Australian locations, Vicon is led by Niall Conlon and last year it had turnover in excess of £12 million (AUD $20 million.)

Vicon provides engineering services including high pressure water-jetting, heat exchanger services, coating systems and chemical services, which are well aligned with EnerMech’s six existing business lines.

It is EnerMech’s second Australian acquisition this year, following the January purchase of Melbourne-based Valve Tech Engineering, which provides valves services to the oil and gas, power, petrochemical and refining industries.

Great Yarmouth and Aberdeen-based Total Reclaim Systems (TRS) provides mud pit and tank cleaning services for offshore oil rigs and production platforms. Its technology reduces the volume of waste fluids created, reduces manual handling and minimises risk by reducing the number of personnel involved in cleaning operations.

The acquisition will allow EnerMech’s Drilling Support Services division to increase the range of services it offers clients, while TRS will boost its international exposure through access to EnerMech’s 25 global locations.

TRS will continue to operate from its Admiralty Road base in Great Yarmouth and all 10 staff has transferred to EnerMech, including Richard Martin who will work as senior consultant and managing partner, Bill Skene, who will continue to operate out of Aberdeen.

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Italian Pleads Guilty to Marine-hose Price-fixing in US

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Contracts

OSI to Integrate Software for UK Royal Navy

OSI Maritime Systems (OSI) announced the signing of a contract to integrate its flagship software, ECPINS-W Sub, into the U.K. Royal Navy’s T45 Destroyer Integrated Bridge System (IBS).

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes, the 3DEXPERIENCE Company,

Canadian Icebreaker Refit Contracts Awarded

The Canadian Government informs it has awarded a $6.5 million contract to Babcock Canada Inc. for critical refit work for Canadian Coast Guard ship 'CCGS Louis S.

Energy

U S closer to imposing more sanctions on Russia

U.S. Secretary of State John Kerry suggested on Thursday that the United States is drawing closer to imposing more sanctions onRussia by saying time was running

Gasoline Prices Up In Iran on Subsidies Cut

Gasoline prices in Iran leapt by up to 75 percent at midnight on Thursday, as state subsidies were cut, a risky move that President Hassan Rouhani hopes will

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Marine Equipment

Italian Pleads Guilty to Marine-hose Price-fixing in US

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Rolls-Royce Wins Heyerdahl Award

Rolls-Royce has been awarded the maritime Heyerdahl Award 2014. The award was presented by His Majesty King Harald at the Norwegian Shipowners’ Associations Annual Conference in Oslo March 31.

Mergers & Acquisitions

Knightsbridge, Frontline to Form US Capesize Company

Knightsbridge Tankers Limited and Frontline 2012 Ltd. have announced an agreement to combine Frontline 2012's remaining fleet of 25 fuel efficient vessels with Knightsbridge.

Fredriksen Joins Rival for New Capesize Firm

Shipping tycoon John Fredriksen is joining one of its shipping firms with rival Knighsbridge Tankers Ltd to create the largest U.S. listed Capesize firm, which

Shippers Vapores, Hapag-Lloyd Merger

A significant majority of shareholders in Chilean shipper Compania SudAmericana de Vapores lent their support to the firm's merger with Germany's Hapag-Lloyd,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3119 sec (3 req/sec)