Glasgow-headquartered engineering specialist JWF Process Solutions has acquired a Manchester-based peer in a move that creates a group with sales in excess of £10 million.
The Scots firm, which specialises in measurement and instrumentation products and services, has gained a UK-wide operational footprint with the takeover of flow measurement outfit Stream Measurement, for an undisclosed sum.
Founded in 1962, JWF has UK and international customers across the oil and gas, food and beverage, chemical and petrochemical sectors and counts Repsol, Chrysaor, Apache, Nestle, Diageo, Macallan, Ineos, PetroIneos and Babcock International among its client base.
Stream Measurement, which was established in 1999 following a management buy-out from Schlumberger, covers the utilities, energy, automotive, food and beverage and pharma sectors, with key customers including National Grid, Centrica, Phoenix Gas, Thames Water, Boots Manufacturing, Greencore, BMW and AstraZeneca.
As well as having a turnover of more than £10m, the combined entity will have a headcount of 37, UK-wide coverage, an extended partner network, “strong synergies” and the deal will enable JWF to further develop its service-related activities.
The Glasgow-based business, which moved to a new world-class facility in 2015 and also has operational bases in Aberdeen and Teesside, offers a package of instrument and measurement services encompassing instrumentation, metering, flow surveys, commissioning, calibration and tank calibration.
Unveiling the deal, Kenneth Fairbairn, chief executive of JWF Process Solutions, said: “JWF’s unique position in the market is underpinned by the partnerships we have in place with manufacturers across the globe. The acquisition of Stream Measurement gives us added strength in existing and new industry sectors, a high-quality team of people who share our customer-first focus, UK-wide reach and the opportunity to build an even stronger services division at the combined group.”
Andy Maber, commercial director at Stream Measurement, said: “This is a very exciting time for both Stream and our customers. We are adding new products, services and increasing our geographic support, whilst the team at JWF complement our existing flowmeter expertise with their years of instrumentation and measurement experience.”
Robert Allan of JWF Process Solutions added: “The markets we work in are going through a period of transformational change. Oil and gas in the UK is seeing a number of mergers and acquisitions and the energy and utility markets are continuing to expand due to their requirements for increased levels of specialist metering support.”
JWF is on track for revenues in excess of £8m in the current year to 31 December.