EnerMech buys Denholm Valvecare
After the deal, the company hopes to get around £7 million in revenue from its valve business in 2018.
Denholm Valvecare is a division of the Scottish company Denholm Oilfield Services, an operator in areas including asset maintenance, energy logistics and precision engineering. Out of the 4,000 Denholm staff, 25 (some of them senior) will be moving with the valves division.
The sum of the transaction was not disclosed.
CEO of EnerMech, Doug Duguid, said: “The opportunity arose to acquire a well-established valves business which will upscale our existing UK valves business and offer economies of scale… This deal adds value to existing clients of both businesses while giving us a strong platform to grow the service in the years ahead.”
EnerMech supplies valves to the on- and off-shore energy industry as well as to general industry. They also conduct a ‘fully integrated’ valves service for procurement, specification, inspection, testing and quality control.
In 2017, EnerMech bought inspection and non-destructive testing provider Minteg and electrical and instrumentation services provider EPS Group.