EnerQuip on track for £20+ million year

Multi award-winning torque specialist EnerQuip is on track to achieve revenues of more than £20 million in the current year after hitting its ambitious targets two years early.

The Aberdeenshire-based company had set its sights on a “25 by 25” goal, aiming to hit $25 million turnover by 2025.  However, near 70% growth in 2022/23 allowed the business to surpass that target ahead of schedule with Q1 figures for 2024 already on a par with the same period last year, demonstrating a consistent approach to sustainable growth.

So far this year, 100% of the company’s business has been generated overseas with the Middle East, APAC and Europe top of the list in new capital sales and servicing, and maintenance backlog.  Whilst firmly focused on consolidating growth achieved over the last few years, the company remains open to exploring emerging markets including Namibia and particularly Guyana, where two contracts have been awarded in the first quarter of this year alone.

Plans to grow the overall headcount by 15% in 2024 have also been surpassed ahead of time, with 14 new people joining the team in 2024 to date.  These are spread across EnerQuip’s global locations, including its global headquarters near Aberdeen and at Lybster, Caithness with an ongoing recruitment drive in Houston, Texas set to further bolster numbers as the company ramps up its presence in the US and looks forward to moving into a new Western Hemisphere location in late Q2 2024.

Managing Director, Andrew Robins said: “Our ongoing success underlines the importance of our efforts to create a global footprint from the word go.  It is this spread of activity across key locations that has allowed us to achieve the recent growth in all our chosen markets.

“Now, the focus is on maximising all the relationships we have worked so hard to foster, ensuring that consistency remains key as we consolidate our position and prepare for the next phase of our corporate growth journey.”

Launched in Aberdeen in June 2015, EnerQuip is a leading specialist in the design, manufacture, installation and maintenance of market leading torque machines and associated products, including bucking units and fully rotational makeup and breakout torque machines which can be adapted to suit any application.  The highly skilled team delivers 24/7, 365 support and works with a growing client base in an increasing list of locations that includes Africa, North and South America, Canada, Europe, Asia, Australia and the Middle East.

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