Aberdeen mechanical service company EnerMech yesterday announced its third acquisition in less than a month.
The firm has bought Bjorge’s crane division, which gives EnerMech a significant entry point to the Norwegian North Sea crane and heavy-lifting sector.
The value of the deal is understood to run into millions of pounds.
EnerMech will take over all contracts, equipment and personnel connected to Bjorge’s crane activities at Stavanger and Haugesund.
Bjorge’s crane division head, Trond Moller, has been appointed general manager of the new company, EnerMech AS, and it is anticipated all of Bjorge’s 30 crane staff will transfer to the new entity. EnerMech will be seeking to strengthen Bjorge’s contracts with Talisman, StatoilHydro and Teekay.
Launched in April as an equipment-rental company, EnerMech expanded into the crane and heavy-lifting market earlier this month with the double acquisition of the UK’s second largest independent crane and lifting contractor Specialist Maintenance Services in Aberdeen, and Great Yarmouth-based training provider A1 Safety Training Consultants.
EnerMech managing director Doug Duguid said: “From the outset we had identified Norway as a market with great potential for us and this acquisition is part of our long-term expansion strategy. SMS has had a relationship with Bjorge for three years in support of our existing Norwegian and cross-border contracts so we were very aware of the company’s long-standing reputation for excellent engineering skills and identified this was a good fit for us in developing our international business.
“The deal gives us a serious presence in the Norwegian market and we plan to invest heavily in the business in the next few years, in terms of new facilities, equipment and people.”
EnerMech has at its disposal a £30million-plus funding package supported by Mr Duguid, fellow directors Michael Buchan, Derek Grant and Phil Bentley and private-equity firm Lime Rock Partners.
Mr Duguid added: “We anticipate making a number of further acquisitions to support our different business lines in the next 18 months to two years.”
The four directors at EnerMech previously worked at Portlethen-based PSL, which was sold to Halliburton last year in a deal worth more than £120million.