PearlStreet makes its national move

PEARLSTREET Energy Services has acquired Melbourne firm ETRS in a move that triples the size of its business. PearlStreet executive chairman Anthony Wooles said the move was a major step towards the private Perth company’s goal of becoming a major national energy services company. “With this acquisition we can offer a vastly expanded customer base of top companies a full range of energy services offerings, including asset management, operations, maintenance, overhauls, non-destructive and mechanical testing, inspection and materials assessment,” he said. ETRS, which has traded since 1957, has more than 160 staff and annual revenue of about $22 million. By comparison, PearlStreet presently has about 30 staff and $8 million turnover. PearlStreet traded as Integrated Power Services before Mr Wooles purchased the joint venture business from Western Power and Halliburton early last year. As well as making the ETRS acquisition, PearlStreet is one of four companies bidding to build, own and operate a new 15-megawatt gas-fired power station in Carnarvon.