EnerQuip acquisition seen as major step in extending global presence
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An Aberdeen-based oilfield equipment firm with premises in Caithness has announced a "significant expansion" to its portfolio with a key product line acquisition.
EnerQuip has acquired the AMC product line from Forum Energy Technologies for an undisclosed sum.
The company, which manufactures torque machines at its facilities in Aberdeen and at Smerlie, Lybster, says the move will further consolidate its position ahead of a forecast return to pre-pandemic revenues.
As part of the acquisition, EnerQuip says it has sought to ensure a smooth transition for all staff involved.
EnerQuip sees the acquisition as a major step in extending its global presence with new locations in Abu Dhabi and Australia coming online in 2022.
The company points out that recent months have seen growing demand for products that include a range of torque machines and bucking units, designed for the assembly and breakout of threaded downhole drilling and completion tools.
EnerQuip managing director Andrew Robins said: “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.”
EnerQuip 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.
International hubs in Houston and Abu Dhabi work in parallel with the company’s global headquarters in Aberdeen and its premises in Caithness to deliver products and services to a client base in Africa, North America, South America, Europe, the Far East, Australia and the Middle East.
Fabrication and welding for the torque machines takes place at the Lybster workshop where 10 people are employed.
