Engineering Installations Teesside Ltd, which is based on Skippers Lane Industrial Estate in Middlesbrough, has been acquired by forward-thinking and ambitious new owners LSM Associates Limited.
Founded in 1958, Engineering Installations is a successful electrical, plumbing and heating and air conditioning installation business and employs 16 people.
Martin Poulter of LSM Associates and his business partner and close family friend will work with the existing management team, headed up by Vince Peel and Brian Duke, to capitalise on the exciting opportunities available within the Teesside region and beyond to further grow the business.
Martin Poulter said: “Engineering Installations Teesside is a very solid business, and we are very much looking forward to working with the existing team to drive growth and build on the decades of hard work that have built a company with an excellent reputation.
“I’d like to thank all the advisors who worked with us to make the process as smooth as possible.”
Clive Owen LLP corporate finance director David Wilson who advised on the acquisition said: “The team at LSM Associates are a classic example of the hugely ambitious entrepreneurial business owners that are currently operating on Teesside and the wider North East. The acquisition of Engineering Installations is a great fit for LSM’s skillset and background, and I’m delighted to assist in delivering a transaction which is perfectly aligned with their future, strategic plans.”
UKSE, the Tata Steel business support subsidiary, provided a six-figure growth capital investment to support the transaction. UKSE regional manager Sarah Thorpe said: “We are pleased that our investment has enabled this Teesside-based company to move ahead with the acquisition and its ambitious plans for future growth. We wish the management team every success”
Also advising were Jenny Waters, Clive Owen LLP, Marc Allison and Eleanor Baird, Weightmans, John Taylor, Parker Barrass, and Nigel Williams of Endeavour Law.