Oilfield equipment company EnerQuip has acquired the fabrication division of Hutcheon Services, Aberdeen for an undisclosed sum as part of a £1 million investment.
Eight members of staff from Hutcheon transfer to EnerQuip’s headquarters at Findon.
The fabrication division’s assets and work-in-progress will also move to EnerQuip.
EnerQuip, which specialises in manufacturing torque machines, said the deal represents something of a “homecoming” for a radiation source transportation shipping container which began life as the brainchild of EnerQuip forerunner, AMC Engineering.
The company was established by former directors and senior staff in 2015 following sale the sale of AMC to US-based Forum Energy Technologies (FET) in 2011.
It added it plans to invest £1m to enhance its fabrication offering as it meets a “significant uptick” in global demand.
Last year the company said it sold its highest ever number of units to Guyana and Brazil with these growing markets likely to put revenues for EnerQuip Group over £22 million for 2024, as they continue on course towards achieving the £25m in 2025 goal.
The latest addition takes EnerQuip back on the acquisition trail where previous deals have included securing the AMC product line from FET and the purchase of Fife sub-contract precision machining company Diamac Engineering. More recently, an expanded presence in Houston, Texas was achieved thanks to a move to a 6,000sq ft purpose building in the North east of the city, taking the team strategically closer to several key regional customers.
EnerQuip managing director, Andrew Robins said: “The well-established reputation of Hutcheon Services’ fabrication division is important in augmenting our ability to present a growing customer base with a safe, capable and respected pair of hands to take care of their project needs, from start to finish.
“The additional capacity which this deal creates, and the skills of the personnel we welcome to the EnerQuip team, will be crucial in helping us to further expand our corporate horizons from a foundation of optimism, sustainability and diversification.”
Hutcheon Services’ managing director, Gary Campbell said: “The sale of the division was a key element of a business strategy to allow focus on the development and expansion of the main core divisions of the company namely electrical, mechanical and network services.
“The sale to such a reputable and flourishing company as Enerquip was the perfect fit and solution for both companies.”
