Marine engineering firm in £2.8 million factory sale

A marine engineer has completed a £2.8 million factory and office sale.

Tekmar Group has offloaded a Darlington base.

Bosses say the “milestone” sale – to Trackwork Group Limited – will boost its balance sheet and support growth plans.

The building was formerly used by Subsea Innovation, but had stood idle since 2024 following County Durham-based Tekmar Group’s sale of the business.

Richard Turner, chief executive at Newton Aycliffe-headquartered Tekmar Energy, said: “We are pleased to have completed the disposal of this surplus property.

“This transaction is an important milestone, significantly bolstering our improving balance sheet, streamlining our asset base and providing additional headroom to support our disciplined investment and growth.”

Tekmar Group recently secured a £4 million-plus deal to send cable protection systems and associated apparatus to a European offshore wind farm.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →