Glasgow welding and cutting specialist gets £5m Barclays backing for acquisition

A Glasgow-headquartered welding and cutting specialist has expanded its operations thanks to an investment package totalling almost £5 million.

WB Alloys has acquired a 50 per cent interest in TVC, an English data and welding inspection business, after securing the £4.8m financing facilities from Barclays. TVC uses the latest technology to inspect welding, carry out laser scanning, collect data and produce detailed and technical reports which are required to adhere to today’s inspection standards.

Paul Houston, director at WB Alloys, said: “The acquisition of TVC will allow us to become a global end-to-end service provider, operating at high standards and with the latest technology in the marine, nuclear, oil and gas, renewables, construction and power generation sectors. WB Alloys has grown by around 30 per cent in the last three years, and we’re on target to grow by an estimated 40 per cent by the end of 2024. Our new relationship with Barclays has given us the confidence required to expand in the current economy and support our plans for 2023 and beyond.”

Jamie Grant, managing director of Barclays Corporate Banking in Scotland, added: “WB Alloys is a great example of a Scottish business which has expanded globally and has worked hard to diversify and take a solution-driven approach. Investing in technology is key to the pace of growth required and Barclays is pleased to have played a part in this success story.”

The banking and financing deal team was led by Alistair Stewart, relationship director at Barclays Corporate Banking.