Denholm Partially Acquires Coatings Company
Industrial service provider Denholm Industrial Services Ltd. announced on Monday (Nov. 6) that it has acquired 60% of surface preparation and protective coatings company Universal Coatings and Services Ltd.
According to the company’s release, Denholm is now a co-owner of the business, along with onshore and offshore energy company Wilton Universal Group. The company states that this new acquisition should help bolster Universal’s position in the industrial sector.
About the Acquisition
Universal Group reportedly employs 61 people and has an 11,500 square meter (about 123,784 square foot) blast and coating facility at its 112-acre base, where it also supplies on-site surface and coatings services.
Denholm says that by bringing together the services of both businesses, Universal could provide a significant offering to help integrate specialist coatings, blasting, scaffolding and rope access to customers working in naval defense, energy and industrial facilities.
“Following two years as supply chain partners, it is the natural next step for Denholm Industrial Services to become a co-owner of Universal Coatings. Formalizing our relationship will enable stakeholders of both businesses to benefit from our enhanced size and scale, as well our shared ethos of service excellence, delivered through world-class skills and experience,” said Steve Hill, Managing Director of Denholm Industrial Services.
“Tees Valley has an exceptional reputation for its industrial capabilities, with forward-thinking companies, like Universal Coatings, building on the area’s heritage, which has evolved to support cutting edge sectors including marine defense, energy and industrial assets.”
Universal Coatings reportedly runs one of the largest coatings facilities in the United Kingdom, on the banks of the River Tees, in Tees Valley. The company works in a range of industries including engineering, petrochemical, subsea, offshore renewables and nuclear power generation.
“As co-owners with Denholm Industrial Services, we will accelerate growth at Universal. This will enable us to invest in further training and career prospects for our loyal and highly talented team, who always maintains exceptional standards of workmanship on the prestigious projects we deliver,” said Bill Scott OBE DL, chief executive of Wilton Universal Group.
“There are strong synergies between Universal and Denholm Industrial Services, both in terms of company ethos and capabilities. Integrating the companies’ services along with Universal’s facilities, services and highly experienced local workforce, is a unique and powerful combination that will benefit customers of both businesses.”