EnerMech was set up by former PSL owners Doug Duguid (managing director), Michael Buchan (finance director), Derek Grant (commercial director) and Phil Bentley (operations director) with a combined capital investment of more than GBP 30m by the four shareholders and private equity firm Lime Rock Partners. The company invests in global energy companies in exploration, production, energy services and oil service technology. It has USD 3bn under management.
Duguid and his three colleagues were part of the original 2003 MBO team which grew Aberdeen-based PSL into a company with GBP 110m turnover and 1,200 staff before selling to Halliburton in 2007 in a deal worth more than GBP 120m.
Initially set up to target the North Sea equipment rental market, EnerMech has moved quickly to expand in to the cranes and lifting sector and training market.
Formed in 1988 in Aberdeen, SMS has 130 staff working in the UK, Norway, Abu Dhabi, Qatar, Malaysia and Singapore. The company specialise in offshore crane and lifting operations ranging from the design and implementation of large lifting and crane projects, to providing crane personnel and designing special purpose lifting equipment.
SMS joint managing directors Bert Middleton and John Morrison and all senior management will remain with the new company, trading under the name EnerMech SMS. The company expects to increase staffing as a result of the acquisition.
A1 Safety Training Consultants was established in 1995, has 35 staff and provides safety training for crane and lifting operations. The company has purpose built training facilities in both Great Yarmouth and Aberdeen where it also has a high-tech crane simulator. There will be no job losses and senior staff, including managing director Rod Leech and general manager Phil Caton, will remain with the new company trading under the name EnerMech-A1.
The acquisitions, the value of which are not being disclosed, brings EnerMech’s payroll up to 200 and the company is currently in negotiations to purchase an overseas company.
EnerMech managing director, Doug Duguid, said: “These two deals are very good news for the staff and customers of both SMS and A1. Our management team have a strong record in dynamic but managed growth and we are looking forward to bringing all that experience to bear in growing these new additions to the EnerMech stable.
“The market segments we are targeting are quite fragmented and we have identified gaps where we think we can offer a lower cost and more responsive service than is currently being provided. We plan to deliver a much greater level of engineering and technical support than our competitors can offer.”
Rod Leech, who will be managing director of EnerMech-A1: said: “We were impressed with the vision put forward by the EnerMech team and their plans for creating a new force in specialist training services. The deal creates many opportunities for everyone working at A1 and we are looking forward to being part of a forward thinking organisation with great plans to make a significant impact in international markets.”
