A group of Humber business suppling the manufacturing, food production and chemicals sector has acquired fabrication, operations and maintenance specialist Worley Field Services.
The newly established Poluma Group includes Grimsby's Allied Protek Engineering Services, Humber Recruitment, Rhoades Power and Control and Turbo Systems Engineering (Hull), and has secured an undisclosed deal with Australian engineering services firm Worley to acquire its º£½ÇÊÓƵ operation. It creates a £70m turnover, 500-strong group working with blue chip clients in the food, manufacturing, munitions, personal care and chemical sectors.
Paul Wilson, chairman of the Poluma Group, said: “We are excited about the acquisition. This aligns with our long-term vision to support the footprint and growth of our engineering capability throughout the º£½ÇÊÓƵ. WFS is a highly respected company on a global and local level with so much history within the region.
"WFS will be rebranded as Allied Protek Field Services. The rebranded company will remain as a separate legal and operational entity within the Poluma Group. We believe that all entities will benefit from this acquisition. We look forward to continuing to work cooperatively with Worley and to support our people and customers, during the transition to new ownership."
Speaking to BusinessLive, Mr Wilson said: "As a business we're extremely busy at the moment - our footprint is fully extended and we've got about 60,000 sqft of manufacturing across out sites. That started us looking again to see if we could bring in more skills and also if we could expand the business."
He added: "The formation of the group is about preparing for the next steps and making sure each individual business is protected. It's about pooling our resource and capabilities, help with our financial models and help with the strength of our business. That holding company can then dictate and control each individual operation, which will run as autonomous businesses."
Worley chief executive officer Chris Ashton said: "We appreciate the value that Field Services has delivered to Worley over the years and have no doubt that they will continue to succeed. This agreement reflects our commitment to actively managing our portfolio in line with our ambition and purpose of delivering a more sustainable world.
"Our business is well positioned to increases investment in high-value sustainability work, and we remain focused on accelerating our growth by using our global experience and capabilities to support customers on their journey to a low-carbon, more sustainable future."
