Expansion and investment follow Precision Drilling takeover

A specialist Yorkshire drilling business is expanding following a ‘significant’ investment by its new owner and managing director.

Hull-based Precision Drilling specialises in drilling for all sectors of business and industry, including building, construction and civil engineering, plus specific sectors such as nuclear, oil, gas and defence.

The company, which also has a depot in Leeds, has an annual turnover of £500,000 and employs eight staff, including seven fully skilled drilling and sawing operatives.

Working on projects UK-wide with a focus on Lincolnshire, Yorkshire, the Midlands and the North, Precision Drilling’s new owner Ian Wilkinson says they are keen to expand.

“Following the acquisition earlier this year, we have now made a significant investment in our transport, machinery, employee training and marketing as well as upgrading our business accreditations.”

Capital investments of approximately £100,000 have included a new floor saw for exterior concrete cutting, such as roads and drainage, a Mercedes van, plus other new machinery and an IT system.

Mr Wilkinson feels this will help develop Precision Drilling’s capabilities in diamond floor sawing, drilling, specialist anchor fixing and selective dust and vibration-free demolition.

“Business is healthy and we are in discussions about projects around the UK including growing sectors such as renewables, onshore and offshore wind, and nuclear, where we have a proven track record on a number of power stations.”

Recent contracts include: drilling work on a liquid gas concrete tank for an oil and gas major; major wall and floor work, such as manholes into floor bases; the exterior of a local hospital, and renovations and improvements at a local leisure centre.

In nuclear, the company has worked on the majority of power stations, where it has provided civil and mechanical engineering such as seismic grade drilling for foundations.

Mr Wilkinson, who is from East Yorkshire, has extensive production, factory management, project management, finance and training experience, and bought the business for an undisclosed sum from the owner and founder Mr Robertson. Mr Robertson started the company in 1972, creating Precision Drilling 2000 Ltd. in 1996, operating mainly from sites in Hull.

“We have a great team here, and I feel privileged to be helping to take Precision Drilling on to the next stage of its development, which will include a big focus on youth and skills, which are our region’s future.

“We already have one former apprentice, Luke Yeaman, working with us full time and we have plans to gradually begin working with training provider HETA on their apprenticeship scheme. We want to give youngsters a chance and a long-term approach is the only way we can secure the business.

“This is not about a fast buck, but a successful, long-term sustainable future for everyone within the business.”