Parsons Peebles, the Rosyth firm that makes and maintains electrical motors and generators, has more than doubled in size after buying a company in England.
Anstee & Ware of Avonmouth near Bristol are leading suppliers to the water, rail and industrial sectors in England and Wales.
They provide motor, pump and gearbox repair, maintenance, reconditioning and field services.
The deal concluded on Thursday for an undisclosed sum allows the Parsons Peebles Group (PPG) to extend its UK coverage.
Anstee & Ware have one of the UK’s largest single workshop facilities for electrical and mechanical repairs and sites in Stonehouse, Cardiff, Swindon, Castle Donnington, St Austell and London.
The move will increase Parsons Peebles’ total employee numbers in the UK from 120 to 270 and create one of the strongest players in the UK electrical service market.
Parsons Peebles’ fortunes were turned round after being bought last year by Clyde Blowers Capital, an industrial investment vehicle of billionaire Scottish businessman Jim McColl.
A revenues fall of 10% was turned into a rise of 52%, fulfilling a prophecy that the change in ownership would trigger an improvement.
Parsons Peebles’ chief executive Frank Barrett said of the latest move: “Anstee & Ware are a high quality company with an excellent reputation and strong customer relationships.
“They are a great fit with PPG and will enable access to new market sectors, significantly enhance our geographic coverage and add a service capability on specific mechanical equipment.
“Having seven additional facilities in England and Wales also provides us with the local network our key customers demand. We look forward to delivering even better service to our growing customer base.”
Jonathan Anstee of Anstee & Ware said the combined strengths would deliver one of the most comprehensive electromechanical service providers in the UK.
Parsons Peebles Group, with a history stretching back to 1898, also has facilities in Sheffield.