More than 60 jobs have been safeguarded on Teesside following the acquisition of industrial services company CIS Northern Ltd.
The deal was spearheaded by current Regional Director, Mike Lee, who partnered with WSG UK Ltd and colleague Mike Winchester after seeking the help of accountancy firm, Anderson Barrowcliff.
Following the instability suffered as a result of the closure of SSI in Redcar, Mike was determined to secure the company’s future, so approached Anderson Barrowcliff to help facilitate a deal that would support his vision of building a full service business for the region’s oil and gas, utilities, power, steel and manufacturing sectors.
Operating as a larger unit using the skill set and industry knowledge from the WSG group, the newly formed team is looking forward to the challenge of growing the business and bringing investment growth into Teesside’s business economy, by offering a greater range of technical services to a larger client pool – something only previously offered by larger, international suppliers.
About the acquisition, Mike Lee said: “I approached Anderson Barrowcliff with a management buyout proposal which Partner, James Dale, helped develop. He understood how important it was for any potential partners to be the right fit and was very helpful in structuring a realistic proposal.
Mike Winchester, who recently joined WSG UK Ltd as director following the acquisition, is keen to develop the opportunities now afforded to the current employees.
He said: “The great thing is we can now create an internal learning environment, with the team able to learn new skills and services from their colleagues.
“Using a ‘mature apprenticeship’ style of training, as well as accredited courses, we’re hoping to strengthen and progress the team in even more technical services over the years. This will not only help us to win new clients, but also offer a greater range of services to existing clients.”
The Company which will ultimately be re-branded as WSG Industrial Services has an aggressive plan to increase turnover from the current group combined £17million to £25million in just three years and is now able to complete a full life-cycle of an overhaul, thanks to the multi-disciplinary skills on offer by the total workforce.
Anderson Barrowcliff is a firm of chartered accountants and business advisors which has origins dating back over 100 years. For more information on its services and specialisms, visit www.anderson-barrowcliff.co.uk.