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Dickinson Dees advises Wilton Engineering Services Ltd on acquisition of PD&MS Ltd

May 08, 2008

Middlesbrough-based Wilton Engineering Services Limited has acquired Project Design & Management Services Ltd of Aberdeen.

The deal will see the expanded company employ more than 250 people and increase its annual turnover to over £30 million.

Wilton Engineering, situated on the River Tees at its Port Clarence Offshore Base in Middlesbrough, provides bespoke high-quality fabrications to the offshore and petrochemical industries. PD&MS, meanwhile, provides expert technical support, engineering and project management services to the oil and gas industries.

The deal was brokered by accountants Clive Owen & Co LLP and funded by The Royal Bank of Scotland (“RBS”), whilst leading northern law firm Dickinson Dees LLP provided the legal advice.

The new enlarged group comprising of Wilton Engineering Services Ltd, Wilton Marine Services Ltd, Universal Coatings & Services Ltd & PD&MS Ltd will continue to operate and service the needs of their existing customers from their present locations, and will naturally look towards synergies across the businesses enabling them to maximise revenue returns and compete aggressively in the markets they operate within.

As part of the transaction the Directors of PD&MS will join the enlarged board at Wilton as active shareholders, as well as maintaining their position on the board of PD&MS Ltd thus ensuring seamless continuity.

The deal enables the new business to position itself as a “turnkey” provider within the offshore oil and gas, petrochemical, marine and energy markets in the UK.

Executive quote

Joanne Lavery, associate solicitor at Dickinson Dees’ Tees Valley office, commented: “We are delighted at the outcome and all parties worked extremely well together to ensure that this complex deal has come to such a successful conclusion for everyone concerned and within a tight timeframe.”

Customer quote

Commenting on the acquisition and the company’s plans for the future, David Soley , Chairman of Wilton Engineering said: “We are delighted to have concluded this deal for PD&MS, which transforms the company and our position within the UK marketplace. With the complementary skills of PD&MS added to our already strong reputation within the industry, we automatically grow our customer base, but importantly face the market now as a truly “turnkey” provider.

“This will allow us to move into new markets, seek new clients both at a domestic and international level. We applaud the support from RBS to allow us to move quickly and conclude the transaction.”

RBS has provided a facility to support the acquisition and the ongoing operations of the enlarged business. Mark Burton, Director, Corporate Banking at RBS in the North East added:

“Wilton Engineering are already a successful business in the UK offshore oil and gas sector. The acquisition of PD&MS and its complimentary skill base now provides the company with additional revenue streams which opens up a number of business opportunities for the enlarged group to exploit.”

About the company

The Royal Bank of Scotland Group ("RBS Group") is one of the world's leading financial services companies providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. RBS Group operates in Europe, the US and Asia Pacific serving more than 36 million personal customers worldwide and employing more than 140,000 people. In addition to the provision of a full range of banking services under The Royal Bank of Scotland and NatWest brands, RBS Group also includes Citizens Financial Group, Ulster Bank, Coutts Group, Direct Line and Churchill.

Dickinson Dees is one of the UK’s leading law firms. Based in the North East of England, with 81 partners and 937 people in all, the firm provides legal services to corporate, commercial, public sector and private clients across the UK. Dickinson Dees prides itself on the high quality and personal service it offers clients, providing complete transparency from pitch to proposal to project. Its stable partnership and high growth rate make it one of the most successful law firms in the UK today. A national business with strong regional roots, Dickinson Dees attracts legal talent locally and from across the nation to join its five offices across Newcastle, Tees Valley, Yorkshire and London.

The “Wilton Group” was initially formed with its first venture Wilton Engineering Services Ltd on 07th July 1994 by founder Directors Bill Scott & Steve Glenn. Since inception the company has grown each year earning many plaudits from industry for delivery on time, working safely, within budget to the highest quality standards. The company has no sales people and its work is gained directly from repeat business and word of mouth. In 1999 the Directors invited Paul Johnson to head up Universal Coatings & Services Ltd as a Director providing shot blasting and coating services both in house on site and to a wider client base. In 2000 the Directors further enhanced its fabrication capabilities with the appointment of Steven Pearson as Managing Director of Wilton Marine Services Ltd manufacturing large complex subsea pipe work, fabrications and vessel mobilisations. In 2006 the 50 acre site at Port Clarence Offshore Base on the River Tees was purchased with large under cover fabrication and painting facilities which gave the ideal platform to launch a huge growth spurt. In 2007 David Soley was invited as Chairman of the Board of Directors to add his flair and vast experience to the existing board. In 2008 Jim Keegan joined Wilton Engineering as Financial Director bringing a strong depth of knowledge regarding financial control. Project Design & Management Services Ltd was acquired as an important strategic member company offering excellent design and management capability. As the group moves forward it will be seeking further acquisitions, mergers and joint venture partners

Contact details

Account Manager at LEWIS, the PR agency

Tel: +44 (0) 161 601 7745

Fax:+44 (0)161 601 7741

Email: dickinsondees@lewispr.com

Website: www.lewispr.com

Technorati tags: Dickinson Dees | PD & MS | Wilton Engineering Services | legal advice |

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