Thu, 10 Oct 2019 | BUSINESS SALE
Tekmar has successfully acquired Pipeshield from its founder and managing director, Steven Howlett, in a deal worth £6.5 million. This acquisition is Tekmar’s third since it floated in 2018.
Headquartered in Lowestoft, Pipeshield provides subsea concrete mattress services – the majority of which is manufactured at its new facility in Blyth, Northumberland. The mattresses are primarily used to stabilise subsea equipment and protect them from impact; they are particularly instrumental in limiting the erosion of the seabed, and in establishing the foundations of marine ports and pipelines.
Tekmar’s acquisition of the company will allow it to tap into Pipeshield’s markets, which include Aberdeen, Saudi Arabia, and Singapore.
Chief executive of Tekmar, James Ritchie, said: "Pipeshield is a perfect fit for Tekmar. Its products are complementary, allowing us to upsell and expand our offering to clients, realising our group vision. "The business has many similarities with Tekmar from both end customers to markets but also most importantly it fits culturally.
"The business focuses on technology, as its key differentiator, and Pipeshield has outstanding credentials, which demonstrate its commitment to safety, quality and, above all, its people; these are key values which we embrace across all group companies."
Howlett will stay on in his role as managing director following the acquisition. He commented: "I am keen to see the business progress and believe that being part of Tekmar will accelerate the achievement of our long-held growth aspirations.
"I want to thank the Pipeshield team for all its hard work, getting us to this point, and highlight, to my staff and customers, that this change in ownership will only increase the opportunities for the business and our passion for delivering outstanding technical solutions. Other than that, it's very much business as usual."
This is a unique opportunity to acquire a company specialising in luxury performance cycle clothing, utilising the finest specialist fabrics and cutting-edge construction techniques.
This successful UK-based company, established in 2018, offers a unique opportunity to acquire a thriving business with a strong reputation among cosmetic creators focusing on bath and body products.
This is a unique opportunity to acquire a thriving cold pressed juice manufacturer and online retailer based in Liverpool, Merseyside, with a strong market presence.
11
|
Jul
|
Holiday letting agency acquires Cornish self-catering holiday specialist | BUSINESS SALE
Travel Chapter, a leading UK holiday letting agency, has ann...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
06
|
May
|
Tekmar Group disposes of subsea company for £1.9m | DIVISION SALE
Tekmar Group, a Darlington-based supplier of technology and ...
Business Sale Report is the complete resource for finding genuine 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.