Deal broadens firm's offering
EnerMech to boost jobs after acquiring MInteg
New team: Minteg director John Bruce, EnerMech Integrated Maintenance and Integrity Director Stuart Smith, EnerMech CEO Doug Duguid, MInteg directors Colin R. Smith and Patrick Gallagher
Engineering services group EnerMech has taken a majority stake in Aberdeen-based maintenance, inspection and integrity specialist MInteg.
MInteg founder Colin Smith and maintenance and integrity experts John Bruce and Patrick Gallagher – who recently joined MInteg from operator Apache North Sea – have relocated to EnerMech’s Aberdeen headquarters.
The business will continue to trade under the MInteg brand and its 45-strong payroll is expected to double by the end of 2018. Terms of the deal were not disclosed.
EnerMech said the investment, for an undisclosed sum, was part of a strategy to broaden its range of engineering services and to optimise support for late-life hydrocarbon assets by safely reducing costs and improving asset integrity.
Clients had indicated a requirement for integrity and inspection services and a broader maintenance capability.
EnerMech chief executive, Doug Duguid, said: “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 are one of the most experienced in the industry in this regard.”
Mr Duguid said MInteg was a “highly scaleable business” and whilst the initial focus would be on the UK market, EnerMech would support its global ambitions by rolling out its services to existing clients in Africa, Australia and the US.
The acquisition follows the purchase in January of EPS Group which provides electrical and instrumentation services in Australia and the US.
EnerMech now has 3,000 employees operating from 40 bases located throughout the UK, Europe, Africa, Asia, Australia, the Middle East and Caspian and the US.
The company’s 2016 turnover of £263 million should increase to £360m this year with global profits of around £42m.