EnerQuip on track for $10 million quarter after global uptick in landmark year
Multi award-winning torque specialist EnerQuip has kicked off its landmark anniversary year by achieving record levels of new business worth $10 million in the current quarter as it prepares to surpass ambitious growth targets.
During the first three months of the company’s tenth anniversary year, the Aberdeenshire-based company has achieved new contract awards valued at $10 million with almost half of that figure coming from activity in January alone. The numbers double the firm’s previous best three-month period for capital equipment sales, with recent capital sales including four Mobile Torque Units (MTUs) to Abu Dhabi as investment in people and facilities in the region continues to pay dividends.
Other Middle East work has also been forthcoming from Saudi Arabia in the early part of 2025, along with the company’s first-ever contract in Turkmenistan. Elsewhere, contracts in the likes of Norway, Brazil and India have further demonstrated the reach of EnerQuip’s expansive geographic footprint, and solid customer relationships.
Making up a substantial portion of the overall figure, the company’s maintenance and servicing work is proving to be a prime area for growth and is already valued at more than $1 million per month in new awards. Anticipated future growth in volume is likely to prompt the need for additional members of staff, including a 50% increase in the size of the technical team in the Middle East.
EnerQuip had previously set its sights on a “25 by 25” goal, aiming to hit $25 million turnover by 2025, but achieved the milestone two years earlier than planned. The focus has now turned to uplevelling the same goal towards achieving £25 million turnover this year with the busy first quarter setting the company on a solid path towards realising the revised ambition.
Managing Director, Andrew Robins said: “A patient and strategic approach has enabled us to create sustainable growth and adopting a global vision from the start has ensured that we have correctly positioned the company to capitalise on opportunities, wherever they may be.
“EnerQuip started in a downturn meaning that the company learned the resilience needed to withstand many and varied challenges throughout our ten years in business, but our ability to overcome allows us to face the future with confidence and optimism as we welcome the next chapter in the EnerQuip story.”
Commenting on the contract awards in Q1, Darren Bragg, Head of Sales – Global, who relocated to the United Arab Emirates in 2023 said: “The real strength of the first three months of the year has been testament to the investment made in the Middle East region. Our Mobile Torque Unit (MTU) equipment has continued to be in high demand in the UAE, and countries such as KSA continue to be strong markets for EnerQuip. Recently it was estimated the global market for torque equipment and services is estimated at $75 million per year. This year we are aiming to break the £25 million barrier, which would make EnerQuip a near $33m business and demonstrably a true market leader which is testament to the hard work of all the team.”
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.
