Sale Completed of Clark Eriksson to Engenda Group

                                                                                      

AGREEMENT REACHED

Outsourced engineering services provider Engenda Group has acquired Clark Eriksson.

Engenda Group Limited, the fast growing engineering specialist based in Runcorn, Cheshire, are delighted to announce that an in-principle deal agreed in September 2014 to acquire Clark Eriksson Associates Limited, the specialist EPCM firm based in Falkirk, has now been completed on 24th February 2015.

The addition of Clark Eriksson completes Engenda’s aim of building an organisation capable of providing core services in design, construction, fabrication and maintenance.

The Group has ambitious plans to achieve and maintain turnover of more than £100m, as well as growing their presence in Europe.

Engenda Group primarily focuses on the process and oil and gas industry but also has a presence in the automotive, food and beverage and materials handling sectors.

“The deal was originally agreed last year but the legal and financial due diligence has taken some time to complete.  Clark Eriksson was originally formed by Jim Toner in 1990 and has enjoyed over two decades of successful trade from its base in Falkirk.  Jim has retired as part of the deal and the directors of Engenda would like to wish him and his family well in the future.” said Lee Foundation, Engenda Group’s Managing Director.

“We have been looking to acquire a design company for some time now to strengthen our existing in-house capability. We have looked at several opportunities which haven’t been suitable for us.  However, we were particularly impressed with the Clark Eriksson team and their “can-do” approach which matches our ethos at Engenda perfectly.  Their ability to embed themselves as part of a team with the client working towards a common goal has also impressed us.  We have also rarely seen a firm with as much in house knowledge in their multi-disciplined workforce.  They will be an ideal addition to the Engenda family.  The location in one of Scotland’s major industrial areas is also seen as ideal for our continued growth in the UK.

“Clark Eriksson has always prided itself on its 'no-nonsense' and 'just-do-it' approach.  Their decisive and professional management; fast response times; competitive rates and first class personnel have all come together to give their customers what they actually want from a design company. 

"We wish Jim Toner and his family all the best in the future and would like to pass on our thanks and admiration for the way they have nurtured the business since its inception.  We are delighted to announce that Scott McMartin will remain with the Business as Managing Director ably assisted by David Gowans and Wallace Aitken.”

“Becoming part of the Engenda Group is seen as a great move for us as it will not only give us the financial support to further expand our business but also opens up new routes to market and will give us access to Engenda’s high quality workforce to further strengthen our EPCM capability.” said Scott McMartin, Managing Director of Clark Eriksson.

Legal and commercial due diligence was undertaken by Hill Dickinson, Liverpool Office and Grant Thornton, Manchester Office and funding was supplied by HSBC, Manchester.

HSBC’s area director of Corporate Banking in Manchester, Jason Trigg, said: “HSBC has worked with Engenda Group since it formed in 2009 and has supported them through a number of acquisitions.

"I am delighted we have been able to assist their latest acquisition. As the world's leading trade and business bank we look forward to helping them enter new markets across Europe.”

Managing director of Engenda Group, Lee Foundation, said: “The continued support from HSBC has enabled us to grow both organically and through strategic acquisitions like this.”

 

For further information please contact Scott McMartin at Clark Eriksson (scott.mcmartin@clark-eriksson.co.uk) or Lee Foundation at Engenda Group Limited (lee.foundation@engenda-group.com)

 

The Engenda Group

The Engenda Group was formed in 2009 by Cheshire entrepreneur Les O’Hare. Mr O’Hare had previously spent 30 years building up his father’s firm, O’Hare Engineering in Runcorn, into a £50m turnover business employing 600 people before selling it in 2007 to German firm Bilfinger Berger.

The Engenda Group was set up to provide a fresh and innovative approach in the delivery of essential outsourced engineering services to the power, chemical, oil and gas, manufacturing and infrastructure sectors both in the UK and overseas. It offers a full range of services  including maintenance and work management consultancy services, outage and turnaround support services, high voltage installation and testing, process control and instrumentation systems, electrical installation, testing and inspection services.

The Engenda Group has recently been listed as one of 2015’s “1000 Companies to Inspire Britain”.  This report is a celebration of some of the fastest-growing and most dynamic small and medium-sized enterprises (SMEs) in the UK and has been published by the London Stock Exchange. Further details at http://www.lseg.com/resources/1000-companies-inspire-britain/2015/company-search/page/11

 

Clark Eriksson Associates

Clark Eriksson was formed in 1990 by Jim Toner.  The company has grown year on year to become one of Scotland’s leading Project Management and Engineering Design Houses, with blue chip clients (past and present) like:  BP, Calachem, Dow Chemicals, ExxonMobil, FujiFilm, Gates Power Transmission, GSK, Ineos, MacFarlan Smith, Nustar Energy, Nynas

Clark Eriksson have a “Can Do” attitude to project delivery, using highly experienced engineers and designers in the following disciplines:  Process Engineering, Mechanical/Piping, Instrument/Electrical and Civil Structural, as well as Project Management, Planning, Project Controls and Construction Supervision. 

The company specialises in multiple smaller projects for existing plant assets, as well as New Product Introductions and new Plant builds with total capital spend of £10M to £20M.

Additional information on the company can be found by visiting their website at http://www.clark-eriksson.co.uk


SALE UPDATE 19th December 2014

The Sale process is progressing well, albiet slightly later than planned.  Due Dilligence has been completed, and we are awaiting Legal Completion.  The Target for legal completion of the Acquisition is the 31st December 2014.  So it will be a new year and a new (but same service) Clark Eriksson.

If you are a client and have any queries on the Acquisition then please contact Scott McMartin (CE Managing Director) either directly or via your usual Clark Eriksson Contact.

Can we all at Clark Eriksson takes this opportunity to wish our Clients and suppliers a Merry Christmas a a prosperus and success 2015.

Below is the original Press Release from the 24th Septmber 2014


PRESS RELEASE

24th SEPTEMBER 2014

AGREEMENT REACHED

The directors of Clark Eriksson Associates Limited, the specialist EPCM firm based in Falkirk, are pleased to announce that an in-principle deal has been agreed to be acquired by the Engenda Group Limited of Runcorn.

"Clark Eriksson has always prided itself on its 'no-nonsense' and 'just-do-it' approach.  Our decisive and professional management; fast response times; competitive rates and first class personnel have all come together to give our customers what they actually want from a design company.  Becoming part of the Engenda Group is seen as a great move for us as it will not only give us the financial support to further expand our business but also opens up new routes to market and will give us access to Engenda’s high quality workforce to further strengthen our EPCM capability.” said Jim Toner, Executive Chairman of Clark Eriksson.

“We have been looking to acquire a design company for some time now to strengthen our existing in-house capability.” said Lee Foundation, Engenda Group’s Managing Director “We have looked at several opportunities which haven’t been suitable for us.  We are particularly impressed with Jim and his company with their “can-do” which matches our ethos at Engenda perfectly.  Their ability to embed themselves as part of a team with the client working towards a common goal has also impressed us.  We have also rarely seen a firm with as much in house knowledge in their multi-disciplined workforce.  They will be an ideal addition to the Engenda family.  The location in one of Scotland’s major industrial areas is also seen as ideal for our continued growth in the UK”

Legal and commercial due diligence has commenced and the deal should be concluded by 30th November 2014.

For further information please contact Scott McMartin at Clark Eriksson (scott.mcmartin@clark-eriksson.co.uk) or Lee Foundation at Engenda Group Limited (lee.foundation@engenda-group.com)

The Engenda Group

The Engenda Group was formed in 2009 by Cheshire entrepreneur Les O’Hare. Mr O’Hare had previously spent 30 years building up his father’s firm, O’Hare Engineering in Runcorn, into a £50m turnover business employing 600 people before selling it in 2007 to German firm Bilfinger Berger.

The Engenda Group was set up to provide a fresh and innovative approach in the delivery of essential outsourced engineering services to the power, chemical, oil and gas, manufacturing and infrastructure sectors both in the UK and overseas. It offers a full range of services  including maintenance and work management consultancy services, outage and turnaround support services, high voltage installation and testing, process control and instrumentation systems, electrical installation, testing and inspection services.