Aberdeen firm EnerMech acquired in £450m deal
- Published
Engineering group EnerMech has been bought in a deal believed to be worth about £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 £361m to December 2017 and profits of £43.6m, and forecast that 2018 revenue was expected to reach £430m with profits in the region of £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."
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