Support for pipeline specialist SRJ Technologies on its path to IPO

Australia’s Doohan is a five-time Motorcycle Grand Prix World Champion and Ireland’s Jordan a former F1 driver and team boss. Both have taken a stake in the specialist engineering firm and Doohan will fulfil the role of ambassador for the company. v

SRJ Technologies manufactures a range of weld-free products for pipeline repair and replacement. The company aims to list on the ASX later this year as part of a push into Australia's lucrative oil and gas sector.

Doohan, who like Jordan lives part time in Monaco, has developed a relationship with the SRJ team which is targeting the lucrative FPSO market based out of the European principality. The company already has representation in Australia and is making a significant investment into the region. That includes building a team of leading industry experts to support its growth strategy and appointing Doohan as ambassador due to his practical understanding of the technology and access to the Australian market.

The Australian Sporting Hall of Famer is no stranger to technical engineering businesses. Among his range of post-racing retirement business ventures, Doohan runs Global Jet International – a company that specialises in sourcing, selling and renting luxury private jets. Whilst it may seem that corporate jets and industrial pipeline components are poles apart, Doohan says the fundamentals are the same. “It's all about innovation and precision engineering,” he said. “The whole point is to create solutions that are better, faster, safer and make life easier for people. Whether that's a motorcycle, a corporate jet or a pipeline coupling, if the focus is on success, that's what the outcome will be.”

SRJ Technologies also announced today that oil industry veteran Rob Pinchbeck has been appointed Non-Executive Chairman. Mr Pinchbeck has held senior executive roles with BP and Petrofac. As part of the senior management team, he was integral in the successful full London listing in 2005 of Petrofac and subsequently served as Group Head of Strategy.

SRJ Technologies CEO Alexander Wood said the appointments were a key aspect of SRJ Technologies' push into the Australian oil, gas and mining sectors.

This will be spearheaded by another recent deal with global mechanical, electrical and instrumentation specialist EnerMech to supply SRJ's products to its Australian customer base. The company also recently announced a partnership with Perth-based precision engineering manufacturer SixDe, which is part of the Nexxis Group.

“The experience and influence that Mick Doohan and Rob Pinchbeck bring to SRJ Technologies are significant and their business acumen, industry insight, as well as contacts, will be a great asset as we drive growth and secure competitive advantage,” Mr Wood said.

“We have already attracted some significant investors into the pre-IPO round of capital raising and with Rob and Mick's assistance, we look forward to proceeding towards an ASX listing over the coming months.”

 

Read the article online at: https://www.worldpipelines.com/business-news/16092019/support-for-pipeline-specialist-srj-technologies-on-its-path-to-ipo/