Express Engineering acquires QA Weld Tech

LDC-backed Express Engineering has secured the site and the plant and equipment of QA Weld Tech, a leading provider of flow spools, crossovers and technical welding services based on Riverside Industrial Park, Middlesbrough. The transaction to acquire the assets was completed following the appointment of joint administrators Steve Ross and Allan Kelly of the Newcastle office of FRP Advisory, to QA Weld Tech, which became insolvent after suffering a sustained period of loss-making.

Express Engineering, which is a Gateshead-based global turnkey supplier for subsea actuator assemblies, connection systems and subsea production systems, intends to retain the current site in Middlesbrough and continue to offer fabrication and welding services under the QA Weld Tech brand. The acquisition has also supported the transfer of 39 staff to the new entity within the Express Engineering group, which now employs more than 230 staff. The investment expands Express Engineering’s technical capabilities and adds flow loops and spools to the specialist product range, and gives access to additional markets and customers.

Chris Thompson, Chairman of Express Group, said: “The subsea energy sector is a core part of our business and, with resurgent demand for subsea manufacturing expertise and products, the addition and transition to carbon capture equipment is fundamental to our growth strategy. We’re pleased to be able to welcome QA Weld Tech into the Express Group. They bring valuable skills and knowledge to the team and join at an incredibly exciting time. Our order book is very strong and we are delivering on our commitment to investing in our people, products and technology to realise our ambitions for the future.”

Allan Kelly, Partner at FRP, said: “QA Weld Tech has been established for 40 years and its technical delivery remains highly regarded but has faced challenges in the period since COVID-19. This sale provides an opportunity to retain that experience and build on the business’ legacy. We wish the employees and Express Group every success in the future.”

 

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Read the article online at: https://www.worldpipelines.com/business-news/14072023/express-engineering-acquires-qa-weld-tech/