Wed, 10 Jul 2024 | BUSINESS NEWS
A power quality engineering firm has said it is considering building on its organic expansion by targeting acquisitions as it seeks to grow in the UK and internationally. Enspec, which was founded in 1999, provides services including power quality analysis, power system studies, site maintenance and renewable energy consultancy.
The firm also designs, manufactures and commissions products including power factor correction, harmonic filters and point-on-wave stitching. Its clients include energy generators such as solar farms, wind farms and hydro plants, as well as manufacturers and hospitals.
Enspec is based in St Helens and has a temporary office in Manchester, where it will open a new permanent base later this year, as well as a design and manufacturing site in Newcastle.
It currently employs 30 staff across its offices and expects to grow its headcount to between 40 and 50 by the end of 2024. Enspec forecasts revenues of £6 million for 2024 and £10 million for 2025.
Last year, the company underwent a management buyout (MBO) in which Chief Technology Officer Tim Rastall acquired 75 per cent of the business alongside his wife, CEO Mara Rastall. Tim Rastall has been at the company for ten years, having joined as an intern.
He commented: "Our growth has been organic and we will continue to further this during the remainder of 2024. We will then look more actively at acquisitions to expand our value chain and reduce time to market.”
Rastall continued: “After last year’s MBO Enspec reorganised the business, creating separate units for manufacturing, consulting and site services. The result has been significant growth in our customer base.”
"Our main focus now is the UK market but Enpec works with customers all over the world and we are in talks to expand into the US market with a potential partner."
Engineering is one of the key sectors driving M&A activity in sustainability and environmental services
Sensational business opportunity, incredibly robust model and sector. Engineering, Construction and Contracting services provider to the Oil, Gas and Petrochemical industries.
The business has been successfully trading for nearly a quarter of a century. It is well located in a busy commercial area with good access routes. The property is of a high-quality and in addition the company owns a freehold premises that are let of...
Opportunity to purchase a Lincolnshire based business that specialises in non-destructive testing (“NDT”) solutions for a wide range of industries.
04
|
Nov
|
Bon Accord keeps it in the family with MBO | MBO/MBI
The owners of Aberdeen-based home improvement firm Bon Accor...
04
|
Nov
|
Warm welcome for employee ownership at Optimum | BUSINESS SALE
Inverness-based Optimum Underfloor Heating Ltd has moved to ...
04
|
Nov
|
Access snaps up software peer Paytronix | BUSINESS SALE
Loughborough-based software firm The Access Group has acquir...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.