An Aberdeen-based torque machine specialist has welcomed ten additional members of staff to the team, thanks to a key and strategic acquisition.
Ambitious multi award-winning EnerQuip has announced the purchase of Fife sub-contract precision machining company Diamac Engineering Ltd for an undisclosed sum.
Diamac Engineering Ltd was established in 1997 and offers a broad scope of services, including turning, milling, grinding, cutting, cleaning and inspection equipment. The Cowdenbeath company’s addition to the EnerQuip portfolio is a significant move, bringing machining capability for the group in-house and opening up diversification opportunities thanks to Diamac’s established reputation across a range of sectors which sees more than half of revenues coming from outwith the energy sector.
It is anticipated that the acquisition will spark further growth in staff numbers, with four new positions likely to be created in the next 6 months as EnerQuip’s growth plans continue apace, in both domestic and international markets.
The latest acquisition is EnerQuip’s second in recent months and follows the earlier purchase of the AMC product line from Forum Energy Technologies, also for an undisclosed sum. The move saw EnerQuip Ltd take ownership of the intellectual property, people, and assets in a move to consolidate its market position.
Meanwhile an ongoing drive to further grow the company’s global presence, included the recent establishing of a permanent presence in Australia with further advancement likely to be announced before the end of the year.
Commenting on the deal, EnerQuip Ltd Managing Director, Andrew Robins says, “The acquisition of Diamac Engineering Ltd allows us to enhance and refine our existing service offering by taking control of another key element of the manufacturing process.”
“Diamac’s well-established reputation in other sectors is something we look forward to exploring in parallel with consolidating our position in traditional marketplaces as we look optimistically towards future sustainability and diversification,” continues 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.