Texo Group acquires CFS Offshore Engineering Ltd
Published by Lydia Woellwarth,
Texo Group has announced a further acquisition to bolster its already existing and expansive Fabrication capabilities, with the purchase of the majority shareholding of Hebburn-based, CFS Offshore Engineering Ltd.
The engineering and technology group, which announced its launch in July, is rolling out an ambitious and transformative strategy to meet the immediate and long-term strategic value-add needs of its clients. It has already made a number of acquisitions as part of its ambitious buy-and-build business strategy.
CFS Offshore Engineering, which will now become Texo CFS, provide full class approved fabrications, vessel mobilisation and demobilisation services, and a complete turnkey engineering solution to the oil and gas and renewables sectors. The company operates from its existing and strategically placed fabrication facility alongside the River Tyne, with an additional and extensive facility currently under construction at the Port of Blyth.
The company will be aptly placed to continue and expand upon its already established track record in completing large projects through the new Port of Blyth facility; boasting some impressive capabilities including: a 40 t tandem lift with a clear hook height of 12 m. Load-out doors at 17 m wide x 11 m high. Quay load-out capacity of 1000 t and a floor area of 2000 m2 with 2500 m2 assembly area – all of which providing clients with an unsurpassed engineering and fabrication solution in the heart of the North East.
Initial investment by Texo Group, combined with integration opportunities will allow the business to double in terms of revenue and headcount increase four-fold over the next four years.
Darren Carlisle, Operations Director, Texo CFS said: “This is the dawn of a new era for our business. Since our inception four years ago we have worked hard to build the business and we are now recognised as a specialist in our sector.”
Darren added: “When Texo Group approached us and outlined their strategy we were hugely impressed by their vision in the creation and formation of a unique iEPC (Inspection, Engineering, Procurement and Construction) group. Being part of Texo Group will help us reach heights that we simply would not have been able to achieve on our own.”
Andrew Robson, newly appointed Managing Director, Texo CFS commented: “This acquisition is a key component in Texo Group’s development, of which already boasts strategic quayside facilities at the Port of Dundee and now on the River Tyne and Port of Blyth; providing clients with unsurpassed fabrication and engineering solutions.”
Texo CFS with the support of the wider group offering gives the company a unique competitive differentiation in the North East of England; providing clients with an integrated concept design through to installation service.
Texo Group has been formed to meet the demand for integrated engineering services within critical infrastructure. Representing an unprecedented offering in turnkey services to both UK and global markets, encompassing initial design, through to lifecycle management of critical assets.
Providing integrated asset services, Texo Group are a leading Inspection, Engineering, Procurement and Construction (iEPC) specialist for multiple sectors, including: oil and gas; clean energy and renewables; marine; nuclear; telecommunications; utilities and critical civil/infrastructure.
Texo Group is headquartered in its purpose-built facility in Westhill, Aberdeen, alongside strategically placed fabrication facilities at the Port of Dundee, Hebburn and a new, bespoke fabrication facility located at the Port of Blyth, plus overseas Drone operating bases in Nigeria, Malaysia and Brazil.
Read the article online at: https://www.worldpipelines.com/business-news/08102018/texo-group-acquires-cfs-offshore-engineering-ltd/
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