Stockton's px Group has acquired Fairport Engineering in an undisclosed deal that includes Sunderland-based Fairport Tunnelling Technologies.
The deal will bring North West-based Fairport's materials handling expertise to the group and is the first since px Group was acquired itself by Ara Partners last year.
Fairport's 70-strong team will now join px Group, which says the move is in line with its international and domestic growth strategy.
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Through the Fairport team, px will offer materials handling design, construction and management in the UK and internationally. Materials covered include fuels and feedstocks, as well as product, from single industrial plants and large-scale sites. Earlier this year, px Group announced its first major operational work outside of the UK at the Risavika Liquefaction Plant, in Norway.
Geoff Holmes, CEO of px Group, said: “We are thrilled to be adding Fairport’s expertise to px Group’s offering - the company is full of brilliant people who are experts in their field. We would like to extend the warmest of welcomes to Neil Hyde, Neil Hargrave, and their teams.
“This is a strategically important move for px Group, given Fairport’s strong footprint in the Northwest and its industry-leading materials handling capabilities. The company has had a strong financial performance in recent years and should integrate seamlessly into our business model.
“The Fairport teams are trusted experts. When we conducted our due diligence, clients and stakeholders could not have been more glowing about Fairport’s people and the way they work. That approach has been instilled by Fairport’s departing Chairman, Paul Fitton, and we are therefore delighted that Paul will still be available to support the business on a consultancy basis.”
Neil Hyde, managing director of Fairport Engineering, added: “This is a major next step in the Fairport journey. We are in our 40th year this year and joining up with px Group, a world-class company delivering essential services to the UK energy industry, is a terrific way to celebrate that.”
Neil Hargrave, managing director of Fairport Tunnelling Technologies, said: “Throughout the process, Geoff Holmes and his team stressed px Group’s owner-operator approach - which in practice means treating assets as if they were your own. That’s the way business should be, and it goes hand in hand with the way we do things - px Group is a fantastic fit for Fairport.”
The acquisition means px Group now has bases in the North West, North East and Scotland in addition to its ownership of Saltend Chemicals Park in Hull.
