Net zero firm swoops in multimillion-pound deal with US-listed group
A multimillion-pound deal has been agreed by Cheshire-based nZero Group to buy Orbital Gas Systems, from its US-based parent company, Orbital Energy Group.
The acquisition was announced to the New York Stock Exchange today (May 11).
Ellesmere Port-based nZero group has ambitions to become the UK’s leading measurement and control partner across the natural gas, petrochemical, biomethane and decarbonisation sectors.
It believes today’s acquisition will ensure the necessary skills and capacity are ready and aligned to help the UK’s ambition to achieve net zero greenhouse gas emissions by 2050.
Orbital Gas Systems is based in Stone, Staffordshire, and specialises in the design, installation, commissioning and maintenance of industrial gas sampling, measurement, and delivery systems.
It has nearly 40 years’ expertise in the manufacture of a broad range of innovative technologies for the energy, power, and processing markets.
The business complements nZero Group’s facility in Ellesmere Port, where its subsidiary, Thyson Technology, operates.
It will see the enlarged group employ more than 150 people with a combined turnover in the region of £16m. Over the next three to five years the company expects to create more than 50 highly-skilled jobs, while continuing to invest in people to create its own talent for the future through apprenticeship and graduate programmes, minimising the impact of UK-wide skills shortages.
Both companies, which retain their existing names, will be led by nZero Group managing director, Matt Allen, along with the support of a highly experienced team.
Matt Allen said: “This deal represents a significant step forward in our strategy to become a key contributor in the UK net zero energy transition by bringing under common ownership two of the UK’s leading measurement and control partners across the natural gas, low carbon hydrogen, petrochemical, and waste to energy sectors.
“The UK and many other countries are making significant commitments to tackle the climate crisis. This is creating a growing demand for companies, like Orbital and Thyson, to provide a blend of existing technologies and innovative solutions to decarbonise, while supporting customers’ commercial and technological challenges to meet the targets they have set themselves or have been set by government.”
The acquisition was backed by NVM Private Equity, the majority shareholder of nZero Group. Pannone Corporate acted as the company’s legal advisers, led by corporate partner, Tim Hamilton, Andy Walsh, Rosie Korcz, and Amy Chandler.
Andy Leach, partner at NVM Private Equity, said: “The combination of Thyson and Orbital creates a business with extensive resource, expertise and technologies that is well positioned in its niche markets.
“With the infrastructure investment that will be made in the UK over the coming years to decarbonise and deliver energy security, these markets are set for a sustained period of growth. The next few years will, undoubtedly, be an exciting period for nZero Group and its employees.”