Industrial services business looks to scale up its operations with acquisition
South Yorkshire-based industrial services group, Altrad, has completed its purchase of Stork TS Holdings Ltd, which holds the Stork UK group of companies.
The deal is designed to mark a transformational step in Altrad’s strategic development in the UK, both offshore and onshore.
Stork ensures industrial installations continue to operate properly and safely by constructing, maintaining or modifying them.
Altrad’s CEO for the UK, Ireland, Nordics & Poland, John Walsh, said: “Today’s announcement reflects an important milestone in the execution of our strategic plan; providing scale to our UK Continental Shelf (UKCS) offshore operations and extending the portfolio of services we are able to offer our clients in the UK, both offshore and onshore.
“We are happy to welcome Stork UK and its 1,900 talented people into the Altrad family and are looking forward to seeing them grow and develop under our broader Altrad organisation.”
Steve Hunt, regional director of Stork UK, added: “We are extremely pleased to be joining Altrad and are confident our business will be well positioned to grow and develop at pace under the new ownership structure.”
A team from Squire Patton Boggs led by corporate partner Geoff Perry advised Altrad on the acquisition.
