Tuesday, November 2, 2010

News: AES acquires Ceetak Engineering Group


Rotherham-based AES Engineering Limited has acquired Bedford-based competitor, Ceetak Engineering Group.

The transaction was completed in September after the shareholders of Ceetak Engineering accepted an offer from AES to purchase all of the shares in Ceetak and its subsidiary companies, including Pump Support Systems Ltd.

Ian Wallace, Managing Director at Ceetak Engineering Limited, will continue to head up the business which employs in the region of 35 staff members around the UK. He has also joined the Board of AESSEAL plc.

The Templeborough company is the world's fourth largest mechanical seal business. They specialise in the design and manufacture of mechanical seals, bearing protectors and environmental control systems for process equipment, maximising reliability and protecting the environment from leakage.

The new division will be rebranded AESPUMP and specialise in the total management and support of pumps and other rotating equipment installed on applications ranging from the chemical and pharmaceutical industries to food and waste management.

Irwin Mitchell's corporate team concluded the deal. Kevin Cunningham, partner and head of the Irwin Mitchell corporate team in Yorkshire, who advised AES Engineering Limited on the deal said: "It is a pleasure to have supported AES in this bolt-on acquisition. Ceetak's pump support services are complementary to AES and will enable the formation of the AESPUMP division. This is the latest step in the AES expansion.

"Our knowledge of the mechanical seals and manufacturing sector meant that we were able to focus on the key issues to bring this deal to fruition to our client’s timescale."

The team of advisors from Irwin Mitchell consisted of Partner Kevin Cunningham, Associate Emma Garth and Solicitor Adrian Massey.

AES Engineering Limited is one of the major specialists in the design and manufacture of mechanical seals and support systems. Its significant growth has enabled AES to become the only major international new entrant to the mechanical seals industry in the last twenty years.

AESSEAL website

Images: aesseal.co.uk


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