Winterhill Largo sets up in Romania

ASSET recovery firm Winterhill Largo has expanded its international network of offices after forming a joint venture in Romania.

The Blackburn-based firm has launched Winterhill (Romania) SRL as a joint venture with David Howard and Victor Stan.

Based at its offices in Bucharest, the new venture employs ten staff and offers real estate and plant and machinery valuation and disposal services across central and Eastern Europe.  It specialises in the valuation of heavy industrial assets – especially in the oil, gas and pharmaceutical sectors.

The new joint venture takes the firm’s international presence to five offices – having previously opened in the UAE, Brunei, Malaysia and Indonesia.

Chief executive Neil Duckworth said: “Opening the Romanian operation with an established business and strong experienced team in Eastern Europe significantly enhances Winterhill Largo’s global reach and also enhances our team’s depth in a number of specialist sectors.

“We know there is an increasing demand for asset valuation and disposal services in Eastern Europe, so it makes good sense for us to expand into this region.”

He added that the new office will boost the group’s turnover by £1.1m.

“We expect to announce further international expansion as we continue our strategy of organic growth and acquisitions in the UK and globally.”