Aberdeen firm EnerMech acquired in 拢450m deal

Image source, EnerMech

Engineering group EnerMech has been bought in a deal believed to be worth about 拢450m, subject to approvals.

The Aberdeen-headquartered mechanical and electrical services specialist has been acquired from Lime Rock Partners by The Carlyle Group.

EnerMech - which was formed 10 years ago - employs 3,500 staff across 40 locations including in the UK, Norway and the Middle East.

The deal is subject to regulatory approvals.

EnerMech recently revealed revenue of 拢361m to December 2017 and profits of 拢43.6m, and forecast that 2018 revenue was expected to reach 拢430m with profits in the region of 拢59m.

Chief executive officer Doug Duguid said: "This transaction marks the beginning of a new chapter for EnerMech as we continue to develop our business, grow our global footprint and enter new markets.

"For our staff and clients, it is very much business as usual."