Aberdeen-based company makes major African acquisition10 January 2013
EnerMech has made a GBP 3M (USD 4.8M) acquisition of Water Weights International (WWI), a Cape Town-based company specialising in heavy load testing of cranes and lifting equipment, in an effort to step up its presence in the African oil and gas sector.
The company said it will invest up to GBP 20M (USD 32M) in its African operations over the next three years and expects its workforce to grow to 250 in the same period.
The new entity will be known as EnerMech Water Weights and WWI managing director Neil Scheibe, will remain in post, ensuring continuity of business relationships and service, EnerMech stated. 25 staff will transfer to the new company, which will relocate to larger premises near to Cape Town's main container terminal in Paarden Eiland.
EnerMech managing director, Doug Duguid, said the deal was a perfect fit with the company's existing cranes and lifting division. "We have been looking for some time for a suitable partner in Africa and Water Weights International fits the bill perfectly," Duguid added. "Not only do its superb products strongly align with our own, but it has excellent relationships with key players across a number of African countries, which will benefit the new business."
Neil Scheibe, WWI managing director, said: "The deal represents a great opportunity for Water Weights International to grow our business and the excellent fit with EnerMech will create a wealth of opportunities for our staff."