ROTHERHAM, U.K. (Jan. 16, 2013) – The global AES Engineering Group, based in Rotherham, UK, has acquired AV Technology, of Manchester, UK, for an undisclosed sum.
AES’s high-tech seals are sold under the AESSEAL brand name. The group has 230 locations worldwide, serving customers in 100-plus countries. The combined group expects sales in excess of £150m ($239.8m) in 2013 and employs 1,555 people worldwide, with 650 based in the UK.
Chris Rea, AES Group managing director, said: “We put customers and the service we give them at the heart of our business. Our customers are almost always manufacturing companies who use rotating equipment and our group is dedicated to the provision of products and services to improve reliability. We consider the acquisition of AVT to be of huge strategic importance as it will greatly enhance the service we can give to any business that runs a manufacturing process.”
AVT, which has 90 staff and a turnover of £6m ($9.6m), will now be part of AES but continue to operate under the AVT brand, led by managing director Steve Mottershead and group sales director John Chappell.
AVT has grown by more than 20 percent year on year since 2005 to become a leading provider of condition-based maintenance services and engineering consultancy in the UK. It sees the link-up with AES as the opportunity it has been seeking to expand internationally.
Steve Mottershead said: “In the last seven years we haven’t lost a client and have grown in all parts of our business. AV Technology has become a force to be reckoned with in the UK and we want to replicate that success elsewhere in the world. We believe that AES’s financial strength, international footprint and enviable reputation for quality products, people and services will provide the platform to capitalize on these opportunities.”