A company which has already doubled its workforce has signalled further growth with its latest acquisition.
Falkirk-based Outreach Ltd has bought Tech Safe Systems (UK) Ltd, which specialises in systems for launching and controlling underwater vehicles used in the offshore oil and gas sector.
Commenting on the deal, sealed for an undisclosed sum, which sees Outreach take over the Great Yarmouth company which employs 22 people, sales and marketing managing director Gary Potts said it would be highly beneficial.
He added: “From the outset, we were very much aware of the great synergies between Outreach and Tech Safe Systems. Both companies have a focus on innovative design and manufacture and Tech Safe Systems has carved an attractive niche in the remotely operated underwater vehicles market which is entirely complementary to what Outreach currently offers in the offshore oil, gas, renewables and marine sectors.
“We believe there is strong potential to grow the business within the Outreach group of companies.”
He outlined plans for “significant investment” in the Great Yarmouth site, including recruiting more employes over the next 12-18 months.
Mr Potts added: “Both Outreach and Tech Safe Systems have significant business in the North Sea, through oil and gas and offshore wind, and Great Yarmouth is an ideal location to service this business alongside our facilities in Scotland.”
In the past 18 months, Outreach has invested £3 million in its Access Division fleet, making it Scotland’s largest independent hirer of truck-mounted access equipment.
Since directors Gary Potts and Derek Payne acquired the company in a buyout in 2007, turnover has trebled to £15 million and the Middlefield workforce more than doubled from 40 to 95 employees.