Leading reliability firm, AV Technology, has been acquired by the AES Engineering Group for an undisclosed sum today (Tuesday 15th January 2013) as part of its on-going strategy to expand its operations internationally.
The Manchester-based engineering firm, which has 90 staff and a turnover of £6 million, will now be part of AES but continue to operate under the AVT brand, led by managing director Steve Mottershead and group sales director John Chappell.
AVT has grown by over 20% year on year since 2005 to become a leading provider of condition-based maintenance services and engineering consultancy in the UK.
Steve Mottershead said: “In the last seven years we haven’t lost a client and have grown in all parts of our business. AV Technology has become a force to be reckoned with in the UK and we want to replicate that success elsewhere in the world. We believe that AES’s finance strength, international footprint and enviable reputation for quality products, people and services will provide the platform to capitalise on these opportunities.”
The AES Engineering Ltd. Group is a British manufacturer of mechanical seals and support systems sold under the AESSEAL brand name with its head office in Rotherham. It operates from 77 sites in 37 countries, generating sales in over 100 countries. The Combined Group expects sales in excess of £150 million in 2013 and it employs 1,555 people worldwide, with 650 based in the UK.
We consider the acquisition of AVT to be of huge strategic importance to our group, as it will greatly enhance the service we can give to any business that runs a manufacturing process.
Chris Rea, AES’ Group Managing Director said of the acquisition, “The AES Group puts customers and the service we give them at the heart of our business. Our customers are almost always manufacturing companies who use rotating equipment and our Group is dedicated to the provision of products and services to improve reliability."