EnerMech Acquisitions Extend its Presence in US, Africa

Posted by Michelle Howard
Tuesday, April 15, 2014
EnerMech chief executive officer Doug Duguid, left, with CVT managing director Stephen David in Cape Town

Oil and gas engineering specialist, EnerMech, has extended its international presence in the cranes and lifting and valves sectors with two acquisitions in the USA and Africa.

The combined value of the deals is said to be approximately £4 million and are forecast to add an extra £25 million to group revenues over the next three years.

Aberdeen-headquartered EnerMech provides a range of mechanical engineering services to the international energy industry, employs more than 2,000 staff across 30 locations and the company expects 2014 revenues to exceed £280 million.

In the U.S., EnerMech has bought Louisiana-based Diversified Oil Field Service Inc (Diversified), while in South Africa valves specialist Control Valve Technology (CVT) has joined the EnerMech stable.

Diversified has a 20 year pedigree of providing crane inspections, repairs and maintenance services to the offshore industry throughout the Gulf of Mexico, in addition to hydraulic repair, testing and design, equipment rental and cranes sales.

The acquisition is a strategic move to develop EnerMech’s crane offering in the U.S., Mexico and other Latin American countries including Trinidad, Venezuela and Brazil, but it will also create additional opportunities for EnerMech’s other six business lines including hydraulics, hose integrity management and equipment rental.

Diversified president Stan Elmore, co-owners Nathan Charrier and Ernie Guth and their 20-plus staff have transferred to EnerMech. The cranes business line will continue to operate from Diversified’s 17,000 sq ft facility at Slidell and there are plans to open a second Louisiana base at Lafayette to service central Gulf of Mexico operations.

The acquisition of Cape Town-based CVT is part of a three year £20 million investment programme to build a strong infrastructure across Africa, which has to date included the acquisition of cranes and load testing business Water Weights International SA, establishing a presence in Nigeria, Ghana and Angola, a trading entity in Mozambique, and the opening of new regional headquarters and workshop facilities in Cape Town, South Africa.

CVT provides servicing, refurbishment and sales of control and safety valves used in the energy, mining and petrochemical industries. The company has a number of long-term customer relationships and has successfully executed projects in South Africa, Angola, Nigeria, Ghana and the Middle East.

CVT’s 19 staff and owner Stephen David will transfer to EnerMech and Stephen David will lead EnerMech’s valves operations in Africa, alongside newly appointed Regional Director Jean François Roche, who joined EnerMech in February and is a former managing director of Société Générale de Surveillance in Algeria.

The deal gives EnerMech access to a facility to support offshore rig repair work at Saldanha Bay in the Western Cape and the company said the new partnership will allow the introduction of other service lines to CVT’s existing client base.

EnerMech Chief Executive Officer, Doug Duguid, said, “Both acquisitions will extend our service provision in the U.S. 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.

“Our philosophy of establishing a strong local presence and infrastructure, using wherever possible the skills of a local workforce, and investing in training and the latest equipment, will bring long-term dividends both for us and our clients.”

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

BG Group Starts up Sixth FPSO in the Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the

BG Awards Fugro MBES, Seabed Coring Contract

Fugro has been awarded a contract by BG International Limited Sucursal Honduras to conduct an integrated multibeam echosounder (MBES) survey and seabed coring campaign

Finance

FMC Collects $1,227,500 as Penalty

Federal Maritime Commission Chairman Mario Cordero announced that the Commission has completed compromise agreements recovering a total of $1,227,500 in civil penalties.

DP World Sings Melbourne Port Lease Deal

DP World and the Port of Melbourne Corporation have reached an agreement on a new 50-year lease, ending months of negotiation over rental increases at Australia’s biggest port.

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

Energy

Koole Terminals Expands Operations in Rotterdam Port

Koole Terminals has begun operations at the storage facility for petrol and diesel in Pernis that it recently acquired from BP. The companies have a long-standing relationship.

Bergeron to be Keynote Speaker at SHIPPINGInsight

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), has agreed to serve as a keynote speaker at the SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition,

Egypt Gets FSRU from BW Gas

Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract.   This comes as as the North African

Marine Equipment

Production of LNG Powered Ferry for Tallink Begins

  The start of production of Tallink's new generation LNG powered fast ferry for the Tallinn-Helsinki route was celebrated on the 4th of August 2015 at Meyer Turku shipyard.

NYK Hosts Safety Conference

Over three dates in July, NYK hosted a safety promotion conference for shipowners and ship-management companies at the NYK head office in Tokyo and at Imabari city in Ehime prefecture.

Bergeron to be Keynote Speaker at SHIPPINGInsight

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), has agreed to serve as a keynote speaker at the SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition,

Mergers & Acquisitions

GasLog Orders Two LNG Carriers

GasLog Ltd. today announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea.

Contship Italia Signs Iran MoU

Contship Italia Spa, also on behalf of Eurogate GmbH & Co. KGaA, KG, recently signed a strategic Memorandum of Understanding (M.O.U.) with Sina Port & Marine Company (SPMCO),

MHI: Notice of Absorption-Type Split Agreements

MHI gives Notice Regarding Conclusion of Absorption-type Split Agreements Relating to Transfer of Ship Construction and Hull Block Manufacture Businesses to Two

Underwater Engineering

NOIA Applauds Senate Passage of OPENS Act

NOIA President Randall Luthi issued the following statement on the Senate Energy and Natural Resources Committee’s passage of the OPENS Act, which will open new

Nautilus Awards Contract for Dewatering Plant Design

Nautilus Minerals Inc. has awarded a contract for the design of the Solwara 1 dewatering plant to be used on the company’s production support vessel to the Brisbane

New Load Measurement Solution for Port of Dampier

Strainstall designs and delivers a load measurement solution for the world’s largest floating wharf at Port of Dampier.   Strainstall, part of James Fisher and Sons plc,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Sonar 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: 0.2209 sec (5 req/sec)