IMES Group of the UK has bought out the Dutch distributor of its Water Weights load testing bags from dredging company IHC Holland.
The deal was worth Euro 600,000, according to IMES financial director Russell Parsons.
Although IMES has distributors in countries around the world, and a USA office, the Netherlands branch will be its first office in mainland Europe. “This is an exciting expansion of the Water Weights business as it gives us a strong foothold in Europe,” said managing director Alan Milne.
But the takeover also represents an expansion into a new market, according to Parsons. The Aberdeen-based company’s strengths have been in measurement for the oil and gas industry. The new company, Water Weights Europe BV, hopes to get involved in load tests for the shipping industry, the main industry of Rotterdam, Netherlands’ main port, where the new subsidiary is based.
As part of this push, IMES is also planning to open an office in one of the UK’s largest ports, Portsmouth, in May.
IMES expansion does not mean that it has lost confidence in the oil and gas market, Parsons said. “In fact the opposite is true – a lot of equipment is getting older and needs testing,” he said. He added that the expansion comes because IMES is a growing company. During the last three years it has increased the number of employees to 195 and increased its turnover from £7m to £12m ($15m).
Parsons said that Dutch customers would not notice any difference in service. “We’re not planning any huge changes initially. We’re getting to know the clients before we plan our next move.” Imes has also appointed Atrac as its approved operator and distributor for Water Weights proof load test equipment in Brazil.
