EnerMech has acquired the UK valves business of Denholm Valvecare (DV).
The global integrated engineering services group has acquired the UK trade and assets of the valves division of Denholm Oilfield Services for an undisclosed sum.
EnerMech expects its UK valves business to generate approximately £7 million revenue this year following the deal, which will see all DV valves equipment, inventory and an estimated 25 staff transfer to the business.
EnerMech Chief Executive Officer, 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.
“Denholm Valvecare has a lengthy track record of success and enjoys many positive relationships in the industry. 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 a wide range of relief, isolation, control and general valves to the onshore and offshore energy industry and wider industrial services sector.
Read the article online at: https://www.hydrocarbonengineering.com/refining/05022018/enermech-acquires-valves-business/