Loadtec Engineered Systems is delighted to announce the sale of its group of companies comprising; Loadtec Engineered Systems, In Control Projects and Loadtec Service, to Benbecula Group, a privately funded group of companies based in Wallsend, Newcastle Upon Tyne. Benbecula Group is led by Ally MacDonald, former CEO of Wellstream International and MD of Technip Umbilicals, current Chairman of Tekmar Energy.
The move greatly strengthens The Loadtec Group portfolio via its new sister companies; Tyne Gangway, Lift-rite Engineering Services and DDS Metals which serve the offshore, marine and engineering sectors.
Loadtec, established in 1996, has an excellent global reputation for providing an inclusive design, supply, commissioning and service package for loading arms, tanker access and fall prevention systems.
Lift-Rite which was acquired by Benbecula Group in October 2017, designs, manufactures, inspects, repairs and hires out lifting equipment, whilst offering on-site rigging and mobilisation services.
Tyne Gangway, originally founded in 1934, was acquired by Benbecula Group in October 2017. The company manufactures and designs marine access systems including gangways and accommodation ladders, predominately for the marine industry, with 50 percent of its equipment produced for export.
A large proportion of Tyne Gangway’s materials are supplied by it’s third division, DDS Metals, also acquired in Oct 2017 by Benbecula Group. DDS was founded in 2005 and supplies aluminium and stainless steel plates and extrusions to a UK customer base.
As a result of this latest acquisition by Benbecula, the Group is targeting further growth in existing and complementary markets. The Loadtec management team will remain and will be utilising the greater group resources to further grow the business.
Alec Keeler, Managing Director of Loadtec said, “We reached a point where we needed to be part of a larger group to achieve the growth we were looking for. Without wider support and financial resource, we were vulnerable to market fluctuations. Benbecula presented a clear strategy to grow the Loadtec Group and develop the existing team towards greater achievements. Our businesses complement each other well, it's very much a win-win arrangement and we look forward to providing our old and new customers both nationally and internationally with an even better customer experience."
Loadtec Group will continue to provide their Zip-Load loading arm products and safe tanker access systems. Going forward, this will be enhanced with innovative and unique products that will anticipate the changing needs of the industries served. Keeler added "We now move into a very exciting phase of the Loadtec story with a professional and ambitious partner".
For more details about this press release, please contact:
Loadtec Engineered Systems Limited
The Stables, Coach House
Hythe Road, Smeeth
Kent TN25 6SP
Tel: +44 (0) 01303 81 4040
Mobile: +44 (0) 7747 844240
Email: [email protected]