Oil services boost
SengS upgrades turnover after contract wins
SengS, acquired last year by Pryme Group, a private-equity backed manufacturer, will design, manufacture and install various test equipment for the onshore and offshore assets of several North Sea oil and gas operators and service companies.
SengS has also been tasked with the completion of a subsea design project in Tunisia, North Africa – with all work to be carried out at the company’s Ellon facility.
These latest contract wins, secured in the past two months, follow repair and maintenance projects worth over £600,000 announced in May.
Having increased turnover from £1.7m in June 2016 to £2.1m for its March 2017 year-end, the business has revised its growth projections upwards and is now projecting turnover of more than £3m by next March. This will mean turnover has doubled in less than two years.
SengS, which employs 21, expects to increase its staffing levels.
Murray Kerr (pictured), who founded SengS in 2012, recently took on the role of group strategic commercial director at Dundee-based Pryme Group. He has been succeeded as managing director at SengS by Peter Thomson.
Angus Gray, CEO of Pryme Group, said: “These significant contract awards are testament to the hard work put in by all of the team at SengS over the past few years, with the business becoming increasingly well-known for completing larger, more complex projects for oil and gas operators and tier-one service companies.”
SengS provides engineering, testing, control and hydraulic systems and tooling to the energy industry. Since 2012, the company has delivered nearly 500 projects across multiple disciplines for clients in the North Sea, Scandinavia, the Middle East and North Africa.
The business has invested £4.2million over the past three years in developing its 9,817 sq ft test facility. This included a £250,000 investment last year to enhance its existing pressure testing capability with the addition of a custom-built 60ft test rig and a 7.8m diameter by 5.8m high external water test tank.