Azets Corporate Finance, which has regional offices in Durham, Newcastle, and Teesside, guided the sale of Wescott Group to Coriant, a rapidly expanding industrial services platform backed by global private equity investor HIG Capital.
The transaction sees two highly regarded specialist businesses become part of the Coriant group of Jarrow-based Wescott Industrial Services and Hull-based SGS.
Wescott Industrial Services provides specialist industrial coatings, fire protection and industrial maintenance services, while SGS is a specialist access solutions provider serving complex industrial environments.
Lee Humble, UK head of corporate finance at Azets, said: “This is a significant transaction for all parties and represents another important milestone in the continued evolution of the UK industrial services sector.
“Wescott Industrial Services and SGS have built exceptional reputations within their respective markets and have established long-standing relationships with customers operating in some of the UK’s most demanding industrial environments.
“Coriant has rapidly emerged as a highly credible platform within the sector.”
The acquisition further strengthens Coriant’s national footprint and technical capabilities across critical infrastructure, industrial processing, energy and defence-related markets.
It also provides both businesses with access to a larger platform, enhanced resources and long-term investment support.
Mr Humble said: “The group has demonstrated a clear vision for growth and the ambition to create one of the UK’s leading industrial and infrastructure services businesses.
“Having previously advised on Coriant’s acquisition of SCA earlier this year, we have seen first-hand the quality of the platform being created and the strategic rationale behind its expansion.
“The addition of Wescott Industrial Services and SGS further enhances the group’s capabilities and creates exciting opportunities for customers, employees, and stakeholders alike.”
Azets Corporate Finance acted as lead adviser to Wescott Group shareholders, offering strategic advice, buyer engagement, negotiation support, transaction execution services and tax advice.
Mark Duffy, managing director of Wescott Group, said: “We are incredibly proud of what the Wescott Group has achieved over the years, building a strong reputation for quality and delivery across our sectors.
“Partnering with Coriant represents the right strategic step for the business, providing the scale, capability and vision to accelerate our growth.
“I am confident that this next phase will create significant opportunities for our people and clients, and I look forward to seeing the business continue to develop as part of the wider group.”
James Salkeld, managing director of SGS, said: “SGS has grown into a well-respected and capable business, and this transaction marks an exciting new chapter.
“Coriant offers a strong platform to build upon our existing strengths while unlocking new opportunities across a broader client base.
“We are confident this partnership will drive continued success and deliver long-term value for all stakeholders.”
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