The parent company behind Dundee engineer PressureFab has added to its stable for the second time in six months after snapping up Fife fabrication firm Houston’s of Cupar.
The Riverside group, headed by award-winning entrepreneur Hermann Twickler, revealed it had taken over the reins at the Cupar Muir Industrial Estate workshop in what its managing director called a “big acquisition”.
Mr Twickler said the agreement would secure the future of around 25 employees in Fife, while complementing his own growth ambitions. The deal follows the October acquisition of Arbroath-based stainless steel specialist RT Metals.
“Houston’s of Cupar brings subsea engineering expertise to the group,” he told The Courier.
“They already have great relationships with leading companies, and supply them with subsea equipment. They have established contacts and a great reputation in that field, and that was a major attraction.”
Houston’s was founded in 1927 and employs around 25 engineering and other staff. Its specialities include steel engineering for the underwater Christmas tree valves, drill panels and remotely-operated vehicles used by the oil and gas industry.
“We welcome the addition of Houston’s of Cupar to our growing group of companies, as it will strengthen our steel fabrication capabilities by adding specialist plate rolling and forming abilities to our existing skill base,” Mr Twickler added.
“In addition, Houston’s of Cupar’s machine shop facility will broaden our services even further for our current and future customers.”
Mr Twickler refused to disclose the value of the deal for Houston’s, where turnover reached just short of £3 million last year, but he did reveal a new identity for his Wright Avenue-based group of companies.
Previously trading as PressureFab Group, his string of companies will now operate under the Twickler Industries banner. The name change represents Mr Twickler’s growing string of interests which also includes industrial coating and blast cleaning firm Angus Alliance Painters, alongside RT Metals and the desire to retain a flat company structure.
Twickler Industries expects to report revenues of around £10m for 2013, and is targeting 20% to 25% organic growth in pursuit of a £15m target this year.
The growing firm supports more than 100 skilled engineers, and is a leading designer and fabricator of containers and other equipment used in the oil and gas industry.
It also hopes to make significant inroads into the renewables industry as a major supplier to the leading turbine manufacturers in the offshore wind market.
Houston’s previous owner, Andy Curran, had been looking to sell his business as he prepared to retire.
“I am certain that the company and staff will be in good hands with Hermann, and am also very excited at the prospect of him bringing the same type of rapid growth to Houston’s of Cupar that he has brought to Twickler Industries and its subsidiaries,” Mr Curran said.