Tue, 11 Jul 2023 | BUSINESS SALE
Gateshead engineering group Express Engineering has expanded its offering in the sub-sea engineering space after acquiring the assets of QA Weld Tech Limited out of administration. QA Weld Tech, which is based in Teesside, specialises in welding and fabricating complex pipework for the offshore, nuclear, power generation and petro-chemical markets.
Following a sustained period of loss-making, the company appointed FRP Advisory’s Steve Ross and Allan Kelly as joint administrators. Express Engineering subsequently acquired the company’s assets, including its base on Middlesbrough’s Riverside Industrial Park, plant and equipment, for an undisclosed fee from the joint administrators.
Express Engineering is based in the Team Valley and manufactures and supplies subsea assemblies, subsea production systems and connection systems for customers around the world. The business, which is backed by private equity firm LDC, says it will maintain the Middlesbrough base and continue offering its services under QA Weld Tech’s existing brand.
Express added that the deal would expand its technical capabilities and add further products to its specialist range, as well as providing it with access to new markets and customers. The buyer said that the acquisition would see 39 QA Weld Tech staff transfer to the new entity within the group.
FRP Partner and joint administrator Allan Kelly commented: “QA Weld Tech has been established for 40 years and its technical delivery remains highly regarded but has faced challenges in the period since Covid. This sale provides an opportunity to retain that experience and build on the business’ legacy.”
Express Group chairman Chris Thompson said: “The subsea energy sector is a core part of our business and, with resurgent demand for subsea manufacturing expertise and products, the addition and transition to carbon capture equipment is fundamental to our growth strategy.”
“We’re pleased to be able to welcome QA Weld Tech into the Express Group. They bring valuable skills and knowledge to the team and join at an incredibly exciting time. Our order book is very strong and we are delivering on our commitment to investing in our people, products and technology to realise our ambitions for the future.”
Read about rising insolvencies among small and medium-sized UK businesses.
The company provides expert and professional engineering services, including machining, welding, and fabrication. The company’s services include machine and plant installation, maintenance, servicing, upgrades, and repairs. The business also offers=s...
A great opportunity has arisen to secure this highly profitable civil engineering company based in North Wales which covers North Wales and the North West.
This independently run Heating Engineers delivers a variety of services to a wide range of clients in its local area. The business is both Gas Safe and Oftec registered, with excellent scope for further growth. They are often turning away work outsid...
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.