A Gateshead engineering group has snapped up a Teesside welding company from administrators in a deal to expand its global subsea work.
Express Engineering, the manufacturing, assembly and testing specialist, said it has boosted its offering in the sub-sea engineering market after acquiring the assets of QA Weld Tech Limited. QA Weld Tech specialises in the welding and fabrication of complex pipework to meet demands of the offshore, nuclear, power generation and petro-chemical industries, but the business called in specialists at FRP Advisory after suffering a sustained period of loss-making.
LDC-backed Express Engineering secured the site and the plant and equipment of QA Weld Tech, based on Riverside Industrial Park, Middlesbrough. The transaction to acquire the assets was completed for an undisclosed sum, following the appointment of joint administrators Steve Ross and Allan Kelly of the Newcastle office of FRP Advisory to QA Weld Tech, after it became insolvent.
