Teesside engineering firm acquires offshore specialist in 'significant' deal
A Teesside engineering business has expanded with the acquisition of a local offshore specialist.
Teesside-based KASL Engineering Group has acquired specialist engineering design business Ardmore Craig as part of its growth strategy.
Based in Darlington, Ardmore Craig specialises in offshore engineering solutions, focusing on design and engineering projects for key blue-chip clients.
The deal represents KASL Engineering Group’s second engineering acquisition since owner Mike Styan took over in February 2020. Andy Stevenson, the founder of Ardmore Craig, will remain with the business as managing director.
Mike Styan commented: “Ardmore Craig is a perfect fit for KASL Engineering Group and Andy will be a key component in our growth strategy. The business fits perfectly into our group and adds massively to our design and build capabilities.
“I’m very much looking forward to working with Andy as our philosophies and visions for the business and the larger group are aligned.
Clive Owen LLP corporate finance director David Wilson advised on the acquisition. NPIF-FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund provided a six-figure growth capital investment to support the projected growth of the Group.
Mike continued: “David, who was involved in the sale of my previous business Prosafe Engineering and the acquisition last year of KASL Precision Engineering, gave his usual sound advice and played a key role in getting this deal completed.
“I am looking forward to the challenges ahead as we pursue our future plans, and I am in no doubt we will continue to work with David and the team at Clive Owen LLP.”
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