Engineering services group EnerMech, of Aberdeen, said yesterday new subsidiary MInteg was poised to double the size of its workforce next year.
MInteg – founded in 2012 – is now based at EnerMech House in Bucksburn, following EnerMech’s six-figure investment in a majority stake in the business.
The maintenance, inspection and integrity specialist currently employs 45 people but this is expected to swell to nearly 100 during 2018.
MInteg founder and previous owner Colin Smith retains a small stake, while other small investors include experienced maintenance and integrity experts John Bruce and Patrick Gallagher.
Enermech now owns 76% of the firm,which delivers specialist maintenance, integrity and inspection services to the oil and gas, renewable-energy, utilities and other major process industries.
The exact figure paid to Mr Smith by EnerMech in the takeover was undisclosed.
Bucksburn-based EnerMech said the investment was part of an ongoing strategy to broaden the group’s range of engineering services, and bolster support for late-life hydrocarbon assets by safely reducing costs and improving asset integrity.
Chief executive Doug Duguid added: “MInteg is a highly complementary business to our existing service lines and their skillset broadens out the capability of the integrated services we can offer to the energy, utilities and infrastructure sectors.
“Customers have indicated they would welcome an inspection and integrity offering as well as a wider maintenance offering which encompasses rotating machinery and the MInteg management team is one of the most experienced in the industry in this regard.
“With a focus on minimising costs for our clients while creating more cohesive and co-operative business models, this acquisition is consistent with our ambition to be recognised as the prominent provider of integrated services.”
Mr Duguid said MInteg, which has moved from Bridge of Don into EnerMech House, was a “highly scaleable business”.
While the initial focus will be on the UK market, EnerMech plans to support the subsidiary’s global ambitions by rolling out its services in Africa, Australia and the US.
It is the second acquisition EnerMech has made in 2017 after the purchase in January of EPS Group, which provides electrical and instrumentation services in Australia and the US.
EnerMech – backed by private-equity firm Lime Rock Partners – employs 3,000 people across 40 bases located throughout the UK, Europe, Africa, Asia, Australia, the Middle East and Caspian and the US.
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