EnerMech Completes Successful Recapitalisation

EnerMech, has completed a successful recapitalisation of the business. This has delivered a substantial debt reduction and provided a stable liquidity platform.

Following the successful recapitalisation, Charles Davison, Jr. will be joining EnerMech as the new Chief Executive Officer. After four years leading EnerMech, Christian Brown will be leaving the company to pursue other opportunities and will provide support to Mr. Davison during a brief transition period.

Mr. Davison brings 25 years of experience in growing and transforming international businesses in oil and gas services, energy infrastructure, and industrial, consumer, and engineered products. He was previously Executive Vice President of Operational Excellence and Chief Operations Officer at Weatherford International plc. Prior to that, he was at Strike, LLC., where he served as President and CEO. He was also previously the Chief Operating Officer for Oceaneering International.

Mr. Davison said: “I am humbled and honoured for the opportunity to lead EnerMech and am eager to work alongside the Board, management team, suppliers, customers, and the talented global workforce at this pivotal point in the Company’s development.

“EnerMech is a recognised industry leader for its comprehensive portfolio, global footprint, extraordinary people, and customer relationships. These elements serve as a solid foundation for the Company to build upon.

“I look forward to leading EnerMech as we deliver on the considerable opportunities to drive disciplined growth and to build customer loyalty.”

Mr. Brown said: “It has been a pleasure and a privilege leading outstanding colleagues and servicing our valuable customer base through the past four years. Together, we grew EnerMech’s business, entered new markets and built a world-class team positioning the Company strongly for the future and for the next phase of its journey. I wish EnerMech the very best for the future.”