Oilfield equipment company EnerQuip is targeting sales of £25 million in 2025 after surpassing £20m for the first time last year.
The firm reached its £20m turnover target two years early, in 2023, thanks to near-70% growth over the past 24 months.
Figures for the first quarter of 2024 are on a par with last year’s record-breaking performance.
And bosses have now sent a “25 (million) by 25” turnover goal amid expectations of further sales success.
Sales success for EnerQuip overseas
EnerQuip, based in Findon, near Aberdeen, specialises in torque products and services.
Its innovative and much-in-demand mobile torque unit is at the heart of a growing product portfolio.
All of its business this year has been generated overseas.
The Middle East, Asia Pacific and other parts of Europe are top of the list for its new capital sales and servicing, as well as maintenance backlog work.
The company is currently focused on “consolidating” its foothold in existing markets.
But bosses said they were also “open to exploring” export opportunities in more new territories after recent contract wins in Namibia and Guyana.
Plans to grow the workforce by 15% in 2024 have also been surpassed ahead of time.
The Aberdeenshire company employed 110 people at the end of last year.
Another 14 have already joined the business this year.
EnerQuip’s growing team spans its headquarters in Findon, a base in Lybster, Caithness, and an office in Houston in the US.
Staff numbers are ramping up amid a sales push across the Atlantic, with the firm planning to move into a new “western hemisphere location” before the end of June.
Managing director Andrew Robins said: “Our ongoing success underlines the importance of our efforts to create a global footprint from the word go.
Now, the focus is on maximising all the relationships we have worked so hard to foster.”
“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 consistency remains key as we consolidate our position and prepare for the next phase of our corporate growth journey.”
Where it all began for EnerQuip
EnerQuip was founded in Aberdeen in June 2015 by three former senior bosses of Granite City-based AMC Engineering – Andrew Polson, Dave Clark and John Duncan.
The company offers services including the manufacture or upgrade of torque equipment from concept and design through to installation and commissioning, servicing, calibration, repair and maintenance, training and consultancy.
Accolades over the years include a Queen’s Award for international trade in 2021.
Conversation