A specialist engineering firm’s plans to diversify have received a significant boost with a strategic acquisition. Derbyshire based Greenbank Group has announced a buyout of Franklyn Yates Engineering for an undisclosed sum and, while the two firms will continue to operate independently, the deal opens up a wealth of new opportunities Both companies enjoy a strong reputation for engineering excellence across a wide range of industrial sectors, and the acquisition is set to broaden Greenbank’s expertise and manufacturing capacity as the company explores new markets. Charles Conroy, Greenbank Managing Director, explained: “Over the past decade the group has invested heavily in diversification as one of our traditional markets, the coal-fired power generation sector, has contracted.
“Franklyn Yates already has a proven track record as a key supplier to companies working in the clean water and sewerage, energy from waste, clinical waste incineration and biomass industries. These are industrial sectors Greenbank has identified as key markets for our extensive range of products and services that have proved so effective in power plants across the globe.”
The deal to acquire Burton-on-Trent-based Franklyn Yates also includes the firm’s manufacturing facilities at Connah’s Quay in Flintshire, which is now set to complement Greenbank’s existing manufacturing facilities in Woodville in Derbyshire and Creswell in Nottinghamshire.
“The addition of Franklyn Yates to our company portfolio opens up a host of new opportunities as there’s fantastic synergy between the two business,” Mr Conroy said. The deal brings the total number of people employed across the group to around 130 and promises a bright future for Franklyn Yates, a well-respected mechanical, electrical, instrumentation, control and automation (MEICA) company, which also provides specialist manufacturing services and fabricated pipework and structures. David Yates, the company’s Managing Director, will remain in post and believes the business is now more secure than ever before with the added infrastructure and financial support.
“Day-to-day operations at Connah’s Quay will continue as normal, but there’ll be even more career opportunities for our employees as part of a larger group, and our customers will also benefit from a much broader range of products, services and expertise,” he said.
“As a result, we expect our turnover to increase significantly as we continue to exceed the expectations of our clients.”
First established in 1954, the Greenbank Group now includes a diverse range of companies specialising in engineering and manufacturing solutions for a growing, global customer base. Its clients include companies working in power generation, manufacturing, aggregates, water and waste-water treatment, glass and paper production and bulk materials handling. Alongside the design, manufacture and installation of chutes, pipework, abrasive resistant linings and projects involving general fabrication, in recent years Greenbank has invested heavily in research and development as well as exploring new markets, including the rail sector.More information about Greenbank Group companies can be found at www.greenbankgroup.com.
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