Vicon Services News

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.

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.