An Aberdeen-based torque machine specialist has announced a significant expansion to its portfolio thanks to a key product line acquisition.
EnerQuip Ltd has acquired the AMC product line from Forum Energy Technologies for an undisclosed sum.
EnerQuip Ltd has taken ownership of the intellectual property, people and assets in a move which will further consolidate its position ahead of a forecast return to pre-pandemic revenues. As part of the acquisition, EnerQuip Ltd has sought to ensure a smooth transition for all staff involved.
EnerQuip Ltd, who earlier this year reported a strong sales performance, continue to see an increase in capital equipment backlog and this acquisition is a major step towards further growing their global presence with new locations in Abu Dhabi and Australia coming online in 2022.
Recent months have seen growing demand for products which include a range of torque machines and bucking units, designed for the assembly and breakout of threaded downhole drilling and completion tools.
Commenting on the deal, EnerQuip Ltd Managing Director, Andrew Robins says, “We are delighted to acquire such a prestigious and reputable industry brand and this product line acquisition will only serve to further bolster our growth aspirations. By listening carefully to the market and working together, we have been able ensure that our customers and the market receive the best of both companies’ legacy and product offerings, delivered through a dedicated business structure.”
“Our single most important goal is to ensure continuity of service to all and, by increasing our headcount globally, we have ensured we are well placed to maintain the elevated levels of satisfaction expected by all customers,” adds Robins.
EnerQuip Ltd specialises in the design, manufacture, installation and maintenance of torque machines and associated products, including bucking units and fully rotational makeup and breakout torque machines which can be adapted to suit any application. International hubs in Houston and Abu Dhabi work in parallel with the company’s global headquarters in Aberdeen and additional premises in Caithness to deliver products and services to a growing client base in the likes of Africa, North and South America, Canada, Europe, Far East, Australia, and the Middle East, as well as the UK.