Aberdeen company Texo Group has taken a majority shareholding in CFS Offshore Engineering to boost the former’s fabrication capabilities.
CFS Offshore Engineering, which is based in Hebburn on the river Tyne, will now to be known as Texo CFS. It will provide fabrication, vessel mobilisation and demobilisation services and a complete turnkey engineering solution to the renewables and oil and gas sectors.
An additional Texo CFS facility is currently under construction at the Port of Blyth on the north-east coast of England.
Facilities at Blyth will include a 40 tonnes tandem lift with a clear hook height of 12 metres, load-out doors 17 metres wide and 11 metres high, quay load-out capacity of 1000 tonnes and a floor area of 2000 square metres with 2500 square-metre assembly area.
The investment by Texo Group and integration of the two companies is expected to double the revenue of Texo CFS and increase the headcount four-fold in the next four years.
Texo CFS operations director Darren Carlisle said: “When Texo Group outlined their strategy we were hugely impressed by their vision in the creation and formation of a unique iEPC (inspection engineering, procurement and construction) group.
“Being part of Texo Group will help us reach heights that we simply would not have been able to achieve on our own.
“This is the dawn of a new era for our business. Since our inception four years ago we have worked hard to build the business and we are now recognised as a specialist in our sector.”
Texo CFS managing director Andrew Robson said: “This acquisition is a key component in Texo Group’s development (further allowing) them to provide clients with unsurpassed fabrication and engineering solutions.”