WGM Engineering is set to become part of the expanding RSK Group after agreeing to be acquired for an undisclosed sum.
Owned by the family of managing director Ian Mathieson, WGM employs 365 mechanical, electrical and civil engineering staff from its headquarters in Glasgow and a workshop in Livingston. Among its clients are Scottish Water, bp Pulse, Scottish Gas Networks and Arnold Clark.
Recent projects include a £20 million upgrade of Dalmarnock Wastewater Treatment Works, and the delivery of electric vehicle infrastructure for Police Scotland in partnership with bp Pulse. Set up in 1986, the company generated revenues of £45m in the latest financial year.
Mr Mathieson, who will remain with the business, said WGM was “delighted” to be joining the “wealth of engineering talent” within RSK. The group employs approximately 10,000 people with turnover this year expected to double to more than £800m.
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“RSK, with companies such as Binnies and MWH Treatment, has become a real powerhouse in the water sector,” he said. “We are looking forward to working closely with the 175 companies within the RSK family as WGM enters this new chapter of its development and growth.”
WGM has recently developed a renewables arm to support its own net zero ambitions and those of its clients. The company’s service capabilities are further supplemented by project management, technical engineering, design, vehicle charging and off-site modular expertise.
Alan Ryder, chief executive of RSK, said: “Our acquisition of WGM Engineering is testament to the skill, experience and work ethic which has seen the company attract a high-profile client list to whom WGM is a trusted partner.
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“This commitment to excellence and an abiding ambition to develop the business further and enhance employee skills to encompass renewables and emerging technologies makes WGM an excellent fit for RSK family.”
Backed by US investment firm Ares Capital Europe, Cheshire-based RSK has completed some 60 acquisitions in the past three years as it seeks to build a dominant position in the global market for emerging and sustainable technologies. With £1 billion of debt finance from Ares, RSK’s business model is to grow its turnover to service its debts.
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