Weldex (international) Offshore Limited

Weldex International Offshore Ltd is a large, holding company with an active status, established 53 years ago in 1971. Employing 106 people, the Inverness-based firm holds £9.4 million in assets and generates £26.6 million in yearly revenue. With four directors and one owner, the company boasts a perfect 5.0 Google rating based on one review. It’s a regular exporter of machinery, boilers, and mechanical appliances, with six months of export activity recorded.

The company’s website paints a picture of a leading crane hire and lifting equipment provider. Weldex positions itself as the largest crawler crane hire company in the UK, offering cranes ranging from 5 to 1350 tonnes of lifting capacity. The business caters to a wide range of sectors, including renewable energy, civils, offshore, oil and gas, power generation, and stadia. It even provides specialist equipment and engineered solutions for heavy or complex lifting operations, with a global reach. Their website also highlights a focus on fabrication, installation, and video production related to crane operations.

Financially, Weldex International Offshore Ltd shows some interesting trends. Accrued liabilities and deferred income have increased significantly, jumping 140% to £1.2 million. Bank borrowings have exploded, reaching £38 million, a dramatic increase from zero. Cash and cash equivalents, however, have seen a substantial rise, increasing 420% to £4 million. Despite this, net assets have fallen by 40% to £25 million. The company’s turnover has increased by 22%, indicating strong sales growth, but the rise in bank borrowings and decrease in net assets suggest a need for careful financial management. The company’s size (meeting two of three criteria for a large company) and the lack of an auditor mentioned (likely exempt) mean the figures are unaudited.

It seems that while Weldex International Offshore Ltd is experiencing growth in its core crane hire business, it’s also taking on considerable debt to support that expansion. Whether this strategy will prove sustainable remains to be seen, but the company's long history and strong reputation suggest it has the resilience to navigate these challenges.

Registered in Scotland under the registration number SC049538, with a registered address at IV1 1UA, 18-20 Harbour Road, Inverness.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.