Press releases

Press release - 13 Nov 2019

Further Balmoral investment in ACE Winches to enhance fleet and reach

 

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.

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

Jim Milne

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.

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Balmoral Comtec Ltd
Balmoral Park, Loirston, Aberdeen AB12 3GY | +44 (0)1224 859000 | surety@balmoral.co.uk
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