Northumberland firm completes buyout to propel further growth

A Northumberland-based engineering supplier has set its sights for further growth following a management buyout (MBO).

Site and Field Services (SAFS), which is headquartered in Ashington, was acquired in an MBO by managing director John Thompson and consultant Mark Berry who bought the company from retiring director Peter Tighe.

John explained: “I have worked with and admired Site and Field Services for many years due to its excellent track record as a North East welding fabrication and CNC machining company. When the opportunity to acquire the business presented itself, Mark and I jumped at the chance to buy the company.

“I am excited about the possibilities to develop and grow the company at a time when North Sea oil and gas market is starting to see good levels of investment after many years of downturn.

“My hopes are to grow the business by securing contracts with oil and gas majors and blue-chip offshore construction contractors as well as developing new and innovative products for the industry.”

The deal was supported by MHA Tait Walker, as well as funding from HSBC UK and legal advice from Square One Law.

Steve Plaskitt, partner at MHA Tait Walker, commented: “We were delighted to have acted for John and Mark as part of this important deal… We would like to wish the team all the best for the future as they move forward with their new business.” John Hammill, corporate partner at North East commercial law firm Square One Law, added:

“John and Mark have a wealth of experience in the engineering industry and their leadership will no doubt drive the expansion of Site and Field Services whilst enhancing the company’s current reputation for providing high-quality products in a timely manner.”

Martin Glaholm, business banking relationship manager at HSBC UK concluded: “We were thrilled to support John and Mark with the growth of their long-standing business.

“This deal further enhances the company’s visibility and position in the North East and we look forward to seeing the business flourish in the engineering market over the coming months.”