Merger to accelerate engineering business’s growth in global markets
Advanced engineering company Synthotech has completed a merger with HMG Water Solutions, in a move designed to support its growth plans in the utility sector.
Synthotech provides advanced engineering services and in-pipe robotics to utility companies worldwide.
The merger with HMG Water Solutions, for an undisclosed sum, will boost the capabilities and technology available to water companies by adding the latest acoustic detection technology to Synthotech robots.
The two Harrogate-based companies will merge both teams, growing the workforce. The move is meant to accelerate growth in global markets by bringing new technologies to market.
Mark Tindley, managing director of Synthotech, said: “These are two hugely complementary businesses and teams.
“Together, we can accelerate the adoption of in-pipe robotic detection and repair technologies to help minimise the environmental impacts of leaks in the gas and water sectors.
“Robots are much more efficient than extensive trench digging, which also means they can save significant amounts of time and money for the utility sector.
“The two teams have worked together over the last five years, and we know we’re a great fit. I’m confident we can make a big impact in the UK and overseas over the coming years.”
As a result of the merger, Synthotech will now operate and supply multiple industries, including gas distribution, transmission, potable water, drainage, sewage and telecommunications.
The larger multi-utility company will offer infrastructure services under the Synthotech brand and supply branded and own-brand products.
Products now include equipment for pipe location and survey, leak detection, network construction, maintenance and management.
HMG Water Solutions Ltd was established in 2018 as a joint venture between PQS Survey, Rosedale Advisory, Synthotech and the Heath Morgan Group.
It established itself as a specialist supplier of leak detection and in-pipe survey equipment, continuing to grow in the UK and global markets.
From 1 June 2024, HMG Water Solutions will cease trading as the business is moved under the umbrella of Synthotech Limited, following its 100% acquisition by Synthotech Ltd.
Following the merger, the Synthotech Group employs 42 people in the UK. It has worldwide partnerships to deploy its technology and resell engineering products, with a revenue of over £5m.
The deal was supported by PQS Survey and Rosedale Advisory.
