EnerMech Powers Ahead With £11 Million Norson Acquisition
2010.04.16 -
Industry
Hydraulics engineering firm Norson Power has been acquired by mechanical services company EnerMech Ltd in an £11 million deal.
Founded in 1974 in Aberdeen, Norson Power provides hydraulic pipework installation and designs and manufactures hydraulic equipment for the oil, gas and marine industries.
EnerMech has acquired the entire equity held by the management team, clients of Aberdeen Asset Management Ltd, and other individual shareholders. Norson employs 90 staff in Aberdeen and Houston and in the last financial year posted revenues of £14 million with £2.3 million EBITDA
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