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Further Balmoral investment in ACE Winches to enhance fleet and reach

Wednesday, 13 November 2019 08:00
ACE Winches aims to capitalise on its presence at ADIPEC this week ACE Winches aims to capitalise on its presence at ADIPEC this week

Since Balmoral Group invested some £10m in ACE Winches in 2017, the companies have been working together to grow ACE’s international reach in the offshore heavy lifting, renewables and decommissioning markets.

To optimise further growth plans, Balmoral recently made a further seven-figure investment in ACE Winches which will be used to strengthen ACE’s equipment fleet to meet increasing global demand.

The investment will also underpin ACE Winches’ position as a leading mooring, lifting, pulling and deploying solutions provider in more than 50 countries.

Jim Milne, chairman and MD of Balmoral Group and chairman of ACE Winches, said: “There are huge opportunities as the global energy market recovers from the recent downturn and we are pleased to be able to assist ACE with their growth plans.”

“There is a highly committed and skilled team in place at ACE and we have every confidence that by working ever more closely with them we can significantly strengthen their market position.”

Both companies are privately owned and have experienced major overseas success that has been recognised in the shape of five Queen’s Awards for International Trade between them.

ACE Winches at ADIPEC 2019

With an expected attendance of more than 145,000 visitors, ADIPEC has become one of the industry’s leading exhibitions and is taking place in Abu Dhabi this week. ACE Winches is exhibiting on stand 8335 and a key objective of the week is to highlight the opportunities the new investment offers for the region.

Alfie Cheyne, CEO at ACE Winches, said: “We have a very strong reputation in the global oil and gas, renewable energy and marine contracting industries for design, manufacture and delivery of bespoke solutions and will use this additional investment to increase our hardware portfolio and make inroads into as yet unexplored territories”.

“We are grateful to Jim and the Balmoral team for their ongoing interest in ACE Winches and look forward to working with them to deliver even more technologically advanced equipment and heightened service levels to our valued client-base worldwide.”

Notes to editor

Balmoral Offshore Engineering is part of Balmoral Group Holdings Ltd, a privately owned company based in Aberdeen, Scotland. Employing over 600 people Balmoral has been providing solutions to the energy, engineering, marine, building, polymer engineering and processing sectors since 1980.

Press contact

Steve Gibb
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+44 (0)1224 859000

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