RenQuip, a manufacturer of hydraulic and mechanical equipment, is expanding globally, and is set to reinforce its position in the Middle East following a significant contract win
Founded in 2021, RenQuip outperformed its revenue projections by 20% in 2022, and tripled its revenue in 2023. As of 2024, the company has doubled its workforce to 14 dedicated team members and is on track to achieve a further 25% growth over the previous year.
A key driver of this success has been RenQuip’s robust expansion strategy, particularly its focus on the US market, where it has added 20 new distributors and resellers in 2024.
RenQuip’s strategic expansion into the Middle East has already resulted in a significant order secured from a major operator in Saudi Arabia. Looking ahead, the company is set to continue its growth trajectory in the Middle East while also expanding into new markets in Asia and Central Europe. To facilitate this continued expansion, RenQuip is launching a comprehensive new product catalogue, producing a series of application videos, and introducing an array of innovative new products designed to meet the evolving needs of its global customer base.
Marc Gerrard, managing director of RenQuip, said, “Our growth in 2024 is a testament to our strategic vision, commitment to quality, and the strength of our team. As we continue to expand globally, our focus remains on exceeding our clients’ expectations through continuous innovation and dedication to excellence in all aspects of our business.”
RenQuip plans to further strengthen its global presence and solidify its position as a leader in the hydraulic and mechanical equipment industry.
Hydraulic equipment manufacturer to expand to the Middle East
John Morgan and Marc Gerrard, RenQuip directors launching the company's groundbreaking flange spreading technology. (Image source: Renquip)
