Middlesbrough engineering firm acquired by global oil and gas specialist

A Teesside engineering company has been acquired by a global oil and gas specialist for an undisclosed sum.

Middlesbrough-based S R Engineering has been purchased by Avenium Engineering in an acquisition advised by Clive Owen LLP corporate finance director David Wilson.

S R Engineering, which was founded in 1990, provides precision engineering services and products across a range of heavy industry sectors.

Avenium provides engineered solutions for the oil and gas, petrochemical, processing, and energy industries across the world, specialising in the supply of process plant equipment and services including mechanical interlocks, rupture discs, and valve automation packages.

Greg Hynes, managing director of Avenium Engineering, commented: “S R Engineering is a great strategic fit with Avenium Engineering as it not only expands our product and service offering, it also integrates services into Avenium that otherwise would have been outsourced.

“They have grown a very solid and successful engineering company, and I am very much looking forward to developing the business in the future.

“I’m confident that the growth of both organisations will help to cement Teesside’s reputation as the one of the UK’s leading industry hubs.”

Steve Rusinek of S R Engineering added: “As soon as I met Greg, I knew that our business ethos and philosophy were a perfect fit. We both place a great deal of importance on the local supply chain and local employees, and in ensuring our customers receive the best possible service and products.

“Greg has some fantastic ideas for expanding both businesses and I am looking forward to working with him.

“I’d like to thank David Wilson for the initial introduction, for understanding my business and what I was hoping to do and for his excellent advice and work in helping make everything run smoothly.”