https://www.lancashirebusinessview.co.uk/latest-news-and-features/graham-engineering-acquired-by-australian-buyerNelson-based Graham Engineering, one of the county's best-performing SMEs according to Lancashire Business View's most recent Hot 100 ranking, has been acquired by K-TIG of Australia.
GEL has strong foundations in nuclear product development with long term production agreements for major clients in the sector.They have applied their capability to grow into other highly regulated markets requiring high integrity stainless steel (or other exotic metal) fabrications. GEL now provides advanced manufacturing solutions to clients across a broad-spectrum of industries including, nuclear, aerospace, security and medical industries.
The company ranked 84th in Lancashire Business View's Hot 100 in 2022, registering £1.4m pre-tax profit on revenues of £16m, with a workforce just shy of 200.
K-TIG, is an innovative technology and welding company incorporated in Australia and listed on the Australian Stock Exchange. Their technology is complementary to GEL’s range of advanced manufacturing capabilities.A share purchase agreement was signed on 21st March 2023, with completion expected in the near future subject to ASX and other regulatory approvals.Adrian Smith, K-TIG chief executive, said:
"We are delighted to have secured the acquisition of GEL and look forward to providing our technology in addition to the advanced manufacturing techniques already offered by GEL to the nuclear industry and other demanding sectors."
The industrial products team at Transcend Corporate, led by Chris Bill, advised the shareholders of Graham Engineering on the sale.Chris sai: "The business is a strategic asset in the nuclear industry and interest in acquiring it was extremely high. In managing the sale process, we were able to identify KTIG as an ideal future home for GEL.
"As someone who has been personally involved in the global nuclear industry, it is very pleasing for me to help an important business such as GEL find a new strategic home and to accelerate K-TIG’s increasing support of the UK Nuclear Industry."
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