ETS acquired by US giant
A global US company have acquired Hartlepool firm Engineering Test Services (ETS)
Mistras employs over 2700 staff across the globe, and is well known for its integrity testing services for critical energy, industrial and public infrastructure. The deal will help ETS, who provide testing services and manpower to heavy engineering, offshore and power sectors, to move into a global marketplace.
As well as fast forwarding the firms expansion plans, the move is set to create 50 jobs.
Leading the deal from the Tait Walker corporate finance team were Mike Russell and Steve Plaskitt, who said: “Many of our recent disposals have been to foreign buyers because the North East has a number of world class companies which are very attractive to overseas investors.
“ETS is an example of a knowledge-based UK engineering sector business attracting attention from abroad. We are delighted to have found them a buyer and complete the deal on their behalf.”
ETS managing director David Dakers said: “This is an exciting and positive time for the company as we look to develop the brand further and bring forward plans to grow the business.
“Tait Walker provided us with help and advice to build up our relationship with Mistras Group over some time and make the eventual deal happen swiftly.”
In the past 12 months, ETS achieved a £4 million turnover in the past 12 months. Managing director Dave Dakers will remain at the help as it moves forward.
This was posted in Bdaily's Members' News section by Ruth Mitchell .
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