EnerMech, the Aberdeen-based oil and gas training and service firm, has secured a £24 million funding line from Lloyds Banking Group that will enable it to launch an acquisitions campaign.

The Scotsman reports that the funding will also enable the company to purchase its current business premises outright.

"EnerMech has quickly built up a global reputation in all the major international oil and gas hubs and our ambition is to strengthen the group with further acquisitions in the months ahead," said Doug Duguid, the company's managing director.

The Scottish arm of the company was formed in 2008 and provides specialist maintenance and engineering services, equipment and training for the offshore oil and gas industry.

Worldwide, the company employs more than 300 people and operates in Africa, the Middle East, Australia, China and South-East Asia.

Among its latest contract awards is an £8.2 million agreement to provide crane services for BP Exploration in Azerbaijan.

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