[T77911S]

200v???
i am not an electrician but an electronics tech. i have never seen anything run on 200v. 208 yes. look and see if the motor can be wired for different voltage.

125amp service is not very much.
you need to see what your meter base is rated for. most are 200amp. here is what i think may be your worse case situation.
you will need to up your meter base to a 400amp box and the power company may need to upgrade their service to you. like i said earlier, they may do that for FREE!!!!
then you will need to upgrade your electrical panel. OR put in a new disconnect along with the meter base and put in a seperate electrical panel. i dont think that will be a problem having 2 electrical panels in a shop. if you have a disconnect after teh meter base you can feed the existing panel and the new panel.
this is all really easy stuff if you can get the power company to up your service..if needed.

i did all this myself. i put in a new meter base at my house with a disconnect (code), one for the house and one for the garage. then put in another panel in the garage.
just contact the people ther about pulling a permit and just play dumb and ask him questions. makes them feel good plus you do things the way they want and no problems.