Fast-growing, north-east engineering firm Texo Group has announced the latest in a series of acquisitions.
Texo Group, headquartered in Westhill, near Aberdeen, has bought CFS Offshore Engineering from businessmen Darren Carlisle and Nigel Wheatley for an undisclosed sum.
Both men will stay on at the business, which has more than 20 full-time employees and turnover of £6 million.
The company, which will be renamed Texo CFS, has a fabrication facility on the River Tyne, with another base under construction in Blyth.
It will provide fabrication, vessel mobilisation and engineering services to clients in the oil and gas and renewables sectors.
Texo Group intends to double revenues at the business and increase its headcount four-fold over the next four years.
Mr Carlisle, Texo CFS operations director, said the takeover was the “dawn of a new era” for the company.
He added: “Since our inception four years ago we have worked hard to build the business and we are now recognised as a specialist in our sector.
“Being part of Texo Group will help us reach heights that we simply would not have been able to achieve on our own.”
Andrew Robson, newly appointed managing director at Texo CFS, described the acquisition as a “key component” in the group’s development.
Texo Group has bought a number of firms in recent months, including Peterhead-based consultancy Navitas Compliance Solutions and family-run Aberdeen firm Orca Subsea.
It also signed a lease giving it access to a manufacturing base and offices in the Port of Dundee.
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