Tekmar Group, a provider of subsea protection systems technologies, said it has signed a sale and purchase agreement for the acquisition of subsea concrete mattresses provider Pipeshield International from its founder Steven Howlett. The deal marks Tekmar's third acquisition since its admission to AIM in June 2018.
The acquisition further strengthens Tekmar Group’s technology offering enabling them to offer more subsea protection in addition to current suite of products including; concrete mattresses, scour protection, pipeline crossings. Further this extends within the group the track record within offshore wind and a longer standing heritage from oil and gas.
Pipeshield, headquartered in Lowestoft, has manufacturing operations local to its primary markets, including Aberdeen, UAE, Saudi Arabia and Singapore. The majority of Pipeshield’s production activity is undertaken at its new leased facility at Blyth in Northumberland, a major hub for offshore renewables activity in the UK.
Pipeshield currently employs 25 full time staff, most of whom are technically focused, plus circa 15 contractors supporting the manufacturing process at any one time. The business has four patents, protecting its core technology, and is fully accredited and independently certified including Full ISO 14001, 19001 and 18001 for Health, Safety, Quality and Environmental (HSQE); Dual Queens awards for International Trade and Enterprise Innovation; and Investor in People Gold standard.