Investment: Energy Cranes

Business: Supply of crane and lifting equipment maintenance and support services

Location: Aberdeen

Dealsize: £142m

T/o: N/a

Energy Cranes is the global leader in the supply of crane and lifting equipment maintenance and support services to the offshore oil & gas sector, with particular presence in the North Sea, Gulf of Mexico, South America, Caspian, Middle East, West Africa and Asia/Pacific regions.

The business has grown steadily in the buoyant market by incremental contract wins and acquisitions of complementary businesses that consolidate Energy Cranes' offering to Customers. This strategy was typified by last year's acquisition of Marine & Mainland in the US and Aberdeen Hydraulics in the UK. Both businesses have been integrated successfully and provide service and product extensions to Energy Cranes' core offering. Management plan a continuation of this strategy, with a number of target acquisitions already identified.