First Integrated Solutions (FIS) has completed a seven-figure acquisition of Tusk Lifting.
The Aberdeen equipment rental firm picked up the business from heavy lift specialist Mammoet, part of the Dutch conglomerate SHV Holdings, which also owns retail chain Makro.
The deal expands FIS’ reach – Teesside-based Tusk Lifting has depots in Glasgow, Hull, Liverpool and Middlesbrough.
FIS said the combined business will have a turnover of nearly £20million and employ around 125 people across its five sites, serving customers spanning the construction, manufacturing, oil and gas and renewable energy sectors.
FIS, which is owned by oil tycoon Ian Suttie, reported an £11.7m turnover and a £880,253 pre-tax profit in the year ended 30 April 2023, according to accounts posted at Companies House.
All Tusk Lifting staff have transferred over to FIS. The firm said it is looking to invest an additional £3million over the next five years to ensure it offers “the best and safest equipment at the most competitive rates”.
Last year FIS snapped up offshore waste compactor business, North Sea Compactors, for an another seven-figure sum.
© Supplied by FISFIS managing director Martin Suttie: “First Integrated has been successful at growing its market share in Aberdeen through continual investment in new equipment and the hard work of our dedicated team.
“By coming together with Tusk Lifting, we will now be able to grow our market share throughout the UK and this deal allows us to diversify the industries which we serve. It also brings additional services to Tusk, allowing it build on its industry-leading lifting business.
“We already share a number of customers throughout the UK and this deal gives us a fantastic platform to grow our market share across multiple sectors throughout the UK.”
He added: “We will continue to look for opportunities to acquire companies which share that ethos and add value, or scale, to the business we are building.”
FIS, established in Aberdeen’s Bridge of Don in 1997, provides lifting equipment, inspection, and equipment sale and rental to the energy sector.
Tusk Lifting managing director Kevin Chalmers said: “This partnership will enable us to innovate faster, serve our clients better and expand our horizons.”