NIS acquires Hold Engineering

CUMBRIAN metal fabricator Hold Engineering has been bought by Chorley-based engineering group NIS Holdings.

The Whitehaven-based business, which counts nuclear power station Sellafield as a major customer, has been acquired from the sole shareholder and founder John Hold for an undisclosed sum.

Chorley-based NIS designs and manufactures plant and equipment but also has subsidiaries operating in the waste management and medical sectors.

NSG Environmental provides decommissioning and waste management services to the UK civil and defence nuclear installations while its Petrie Technologies works with radio frequency and microwave heating for industries including food producers and the medical industry.

The group has a turnover of around £25m, and employs 240 staff. Hold Engineering employs 30 staff and has a turnover of £1.7m.

Howard Entwistle, finance director of NIS Ltd, said: “The purchase of Hold Engineering will further consolidate NIS Holding’s position in the sector and we are looking forward to building the business.”

Keith Melling, head of corporate at Napthens solicitors, advised NIS on the acquisition. Accountancy services were provided by KPMG. Mr Melling said: “This is a solid, strategic acquisition for NIS, which already operates within the ‘Energy Coast’ area of Cumbria, and works with Sellafield.”