Carlyle to acquire Aberdeen-based oil services firm from Lime Rock Partners

Global alternative asset manager The Carlyle Group has agreed to acquire Aberdeen-based EnerMech Group Ltd, an international services company providing critical asset support to the energy, infrastructure and industrials sectors, from Lime Rock Partners.

The transaction, though to be worth around £450 million, is expected to close in Q4 2018, subject to customary anti-trust and regulatory approvals.

Equity for this investment will come from Carlyle International Energy Partners (CIEP), a $2.5 billion fund that invests in the global oil and gas sector outside North America. Credit Suisse, Lloyds and DNB have underwritten the all-senior rated loan financing the acquisition.

Marcel van Poecke, head of Carlyle International Energy Partners, said: “EnerMech is an attractive, well-positioned international integrated energy, infrastructure and industrial services company, led by a strong team. The company has multiple avenues for growth. We believe potential synergies across CIEP’s portfolio companies as well as the broader Carlyle family are attractive. We look forward to working with the team and supporting EnerMech’s continued growth.”

John Reynolds, co-founder and managing director of Lime Rock Partners, added: “We have greatly valued our partnership with Doug Duguid, Michael Buchan and the entire EnerMech team as we supported the business’s growth and transformation since inception. We are confident that the company will continue to thrive under Carlyle’s ownership.”