Aberdeen-based rentals firm Centurion Group hit another record breaking year with revenue nearing £580 million.
New accounts for Dyce-headquartered company show revenue of £579m for the year to December 2023.
That is a 11% revenue increase on the 2022 figure of £521m.
It also recorded pre-tax profits of £35.5m for the year, compared to £39.4m the year before.
Last year the group made five acquisitions in Canada, Netherlands and Australia.
Centurion acquisitions
Centurion chief executive Fernando Assing said the new additions would “significantly enhance” the groups capabilities moving forward.
With more than £77.8m of liquidity, the group is in discussions with a number of acquisition targets.
In 2022, Centurion acquired Kintore-based Aleron and Forfar-based firm RMEC, which rents well services equipment to the oil and gas industry.
Mr Assing said: “2023 marked another year of record financial performance for Centurion, as the group sharpened its focus on delivering technical, efficient and sustainable rentals and services to critical industries.
“We made significant progress against our strategy to diversify and expand the business, extending our offering to new end-markets and geographies.
“This was underpinned by five major acquisitions, which significantly enhanced the group’s capabilities and positioned it for growth in adjacent markets, from offshore wind to specialist water treatment.”
Centurion ‘good momentum’
Earlier this year Centurion completed the sale of its Canadian and Puerto Rican infrastructure and construction business Site Resource Group for £76m.
The group has made a strong start to 2024, with Q1 revenue of £93m and earnings before interest, taxes, depreciation, and amortisation of £16.3m.
Mr Assing said: “Centurion’s good momentum has continued in to 2024, underlining the strength of our business model and the sustained demand for our products and services around the world.
“We look forward to continuing to build on this throughout the rest of the year, for the benefit of all our stakeholders.”
Centurion Group was established in 2017 after private equity company SCF acquired four businesses; Centurion in Aberdeen, Oil Patch in the US, Site Energy Services and WTS Rentals in Canada.
