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Enermech Ltd News

21 Nov 2013

EnerMech Sets $452 Million 2014 Sales Target

Valves repair, manufacturing and servicing is one of EnerMech’s six global business lines.

Oil and gas services group EnerMech Ltd. has predicted 2014 turnover will increase to more than £280 million ($452m), a jump of £80 million ($129m) on the current year’s forecast and double the £144 million ($232m) revenue recorded in its 2012 annual accounts. The Aberdeen-based company’s 2012 group accounts showed an £11 million ($17.7m) profit (EBITDA) on revenue which grew 41% from £102 million ($165m), and it expects 2013 EBITDA to break the £20 million ($32m) barrier. The mechanical engineering specialist reported that in the same period its U.K.

10 Jan 2013

EnerMech Profits From Investment

Mechanical engineering services company, EnerMech Ltd, doubled turnover in 2011 to £102 million, up from £50.6 million in 2010, according to its latest group accounts. The Aberdeen-based group delivered an £8.4 million profit (EBITDA*) and forecast 2012 profits would almost double to £14 million on expected turnover of £140 million. A recently agreed £25 million funding package from private equity backers, Lime Rock Partners, will underpin five strategic acquisitions in 2013, in addition to the £3 million acquisition of South African business Water Weights International last month.

21 Dec 2012

EnerMech Weighs Up African Expansion

EnerMech acquisition Water Weights International specialize in proof load testing of cranes and lifting equipment.

EnerMech Ltd has stepped up its presence in the African oil and gas sector with the £3 million (43 million Rand) acquisition of heavy load testing company Water Weights International SA (Pty) Ltd. The mechanical engineering group will use Water Weights International’s (WWI) strategic relationships to accelerate growth of its main business lines in South Africa and in key East and West African countries. EnerMech will invest up to £20 million (284 million Rand) in its African operations over the next three years and expects its workforce to grow to 250 in the same period.

14 Dec 2011

EnerMech Turnover Up 100%

Mechanical engineering company EnerMech forecasts ÂŁ10 million profit for 2011.

Mechanical engineering services company, EnerMech Ltd, will finish the year with a 100% increase in sales, with 2011 turnover expected to top £103 million compared to £49.5 million last year. The Aberdeen-based company forecast for 2011 will deliver a £10 million profit (EBITDA*) and said turnover next year would increase to £142 million with profits expected to double to £20 million. The company also announced that Lloyds Banking Group has agreed to provide additional funding of £20 million, which will be used to support further investment in more equipment and facilities.

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