Aberdeen-based engineering services company EnerMech said it has acquired EPS Group in Australia and the Americas.
EPS Group, a company specializing in electrical & instrumentation hazardous area inspection, high voltage testing and mechanical services for oil and gas, metals, utility and infrastructure projects, would open the E&I sector for EnerMech, the company said in its statement on Tuesday.
EPS Group has worked on six of the world’s largest LNG facilities and its U.S. unit is supporting the LNG pre-commissioning market with projects including Sabine Pass and Freeport LNG.
The value of the deal was not disclosed but additional funding has been provided by EnerMech’s three banking partners, Bank of Scotland, HSBC and DNB, alongside long-standing equity partners Lime Rock Partners, in order to support the deal.
EPS Group managing director Paul Buckley and fellow directors John Cox and Brett McGrane will remain with the business and have become shareholders in the wider EnerMech Group.
Speaking of the acquisition, Doug Duguid , EnerMech chief executive officer, said the acquisition is an answer to customer demand for integrated commissioning and maintenance services.
About 30 percent of EPS Group’s business is in mechanical services, including specialty welding, which dovetails with EnerMech’s core business which includes cranes and lifting, valves, industrial services, hydraulics, and process, pipelines and umbilicals.