South Tyneside industrial services firm Kaefer Limited has seen turnover soar to more than £230m on the back of a major restructure and new contracts wins.
The company has expanded significantly after German parent group Kaefer acquired major Gateshead employer Wood Group Industrial Service in 2020 in a deal worth around £80m. Kaefer – which carries out a range of industrial services including insulation, ventilation, fire proofing, asbestos removal, painting and scaffolding – already had 12 bases around the UK including operations in Jarrow, South Tyneside, and Billingham, Teesside, employing around 1,200.
Latest accounts show the enlarged group, which has its head ofice in Jarrow, has grown its workforce to more than 2,838 after merging with the former Wood Group business, which has also led to an 89% uplift in turnover to £234m in the year ended December 31 2021.
