SO4 Offshore Limited was established in 2009 providing specialist engineers to commission and maintain primary and produced water processing equipment on FPSOs and onshore facilities. To name but a few of the packages we service: SWRO and SRP systems, water injection packages, de-aearator packages. Since 2009, we have a long list of services provided to global players in the industry. See our website www.so4offshore.com for details of jobs completed. SO4 also provides engineers for rotational posts.
The company had a T/O of circa £600k with profits of circa £60k pre COVID with a trajectory towards £1m T/O. COVID unfortunately hit operations hard as well as the industry in general.
Good profitability due to low overheads and few personnel needed to run the company.
Last year significant efforts were made to regain lost business and SO4 now has an impressive list of major companies on its books with several jobs in the pipeline. Mobilisation to Angola and Brazil taking place May/June 2023 with follow on work planned.
Latterly margins were increased by the current owners. SO4 also has a strong list of senior engineers they can call on to service clients.
SO4 operates globally with projects completed in the Middle East, South America, the North Sea, and latterly Europe
SO4 differentiates from other technical recruitment generalists through it's focus on water treatment. There are very few recognised specialists in this area and SO4 have repeatedly outperformed major manpower companies in filling roles through its specialism. This focus also generates work from clients in other discipline areas
The Market
Oil and gas recovery since COVID has been slow but projects seem to be moving ahead now. Clients have indicated significant upcoming work in Brazil and Africa on major productions facilities. Latterly towards the end of 2022, the directors of SO4 have been tapping in to the huge global industrial water treatment industry and within a very short time business was gained in Azerbaijan and Saudi Arabia. This is viewed as a huge growth area and the demand is strong
Reasons for the sale: the directors are planning for retirement and view this as a strong opportunity for a business or individuals involved in technical recruitment or indeed the oil and gas industry. There is room for significant growth in the oil and gas sector for SO4 and the potential in the industrial water treatment sector is exciting. There is no doubt that a strong marketing campaign would gain new clients and develop the company in a relatively short time. The asking price for the company would have been significantly more had it not been for the effects of COVID which hit the T/O.
Offers invited IRO: £75,000
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