Turnover rose last year at a company which saved 60 jobs in Hull when it bought a business teetering on the brink of collapse.
Future Industrial Services, headquartered in Merseyside, struck a last-gasp deal with Colt Industrial Services last summer.
The deal, believed to be worth around £1m, saved 60 jobs in Hull-based Colt at the time, and Future Industrial Services has now said that acquisition has helped boost turnover at the business.
FIS announced turnover of £32.2m in 2018, up from £26.5m the previous year.
David Lusher, CEO at Future Industrial Services (FIS), said: “We are proud to announce these figures, which follow a sustained approach to acquisition, investment in our team, and a sharper focus on the market.
“The acquisition of Colt as well as the change in our operating model to a service and product structure has allowed us to deliver a much more focused approach to sales and drive operational efficiencies within our business.
“This, in conjunction with the appointment of key people, means we are well placed to continue to grow and deliver our specialist services nationally to both new and existing customers.”
Headquartered in Kirkby, Merseyside, FIS works with clients including government, major utility and multi-national companies to provide a range of cost-effective solutions to waste management and decontamination requirements, including specialist recovery facilities for oils and heavy metals.
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The turnover increase reflected boosted part-year sales from the acquisition of Colt, FIS said.
FIS announced a 22 per cent increase in turnover following its acquisition of Colt, and further investment in its management team and fleet.
Mr Lusher said: “We will continue to take advantage of the current market conditions to strengthen our position further.
“With additional investment in IT systems to improve efficiency planned for later this year, as well as the benefits brought about from the investment in our fleet, we look forward to continuing to grow turnover and deliver shareholder value.”
At the time of the takeover deal of Colt, the business had been based in Hull for 25 years.
Colt worked in industries including rail, offshore, military and utilities, providing a range of services such as high pressure and tank cleaning, waste management and spillage response.
Its previous owner, Augean, bought the business in May 2016 for £14m.
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However, the two years which followed proved difficult, leading to the near-collapse and eventual sale of Colt to FIS last summer.
FIS operates a fleet of specialist vehicles with 340 employees working in its eight sites across the 海角视频.
At the time of the Colt deal, FSI also entered into a long term lease for the existing premises in Hull in order to ensure continuity of service to the regional customer base.
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