Ainscough Industrial Group is the bit that the Ainscough brothers kept when they sold their crane hire business for £255m in 2007. It is run, and majority owned since 2009 by Matt Ainscough, son of Martin.
It has grown rapidly in recent years, having almost doubled its turnover from £15 million in 2011/12 to £28m in 2013/14. The acquisition of Seward Wyon adds 40 full time staff and revenue of £6m to the group, which is now on target to hit sales of £40m in the current financial year.
Established in 1981, Seward Wyon specialises in engineering consultancy, structural and mechanical design, fabrication and installation of specialist lifting and cargo-handling equipment. The business serves customers in the port and marine and offshore oil, gas and renewable energy sectors. Recent projects include dismantling dockside cranes as part of the upgrade of Portsmouth Naval Base and disassembly of a factory in southwest England or relocation the Philippines.
For Ainscough Industrial Group, the acquisition follows a restructuring and re-branding in April that saw the business organised into four division – AIG Projects (for large and complex projects), AIG Vanguard (standard machinery movement), AIG Engineering Services (pipework fabrication ) and AIG Offshore Renewables (wind-power project support). Seward Wyon adds a fifth brand to the family.
Group managing director Matt Ainscough said: “The skill set within Seward Wyon dovetails perfectly with the existing capabilities across the group, and we are looking to build on the excellent and long-standing reputation the business has developed in a number of key markets.
“The advanced 3D modelling and design expertise the business has developed will also be a helpful addition to our service offering, adding further depth to the bespoke engineering work we deliver.
“We are confident that the enhanced financial backing that the group will provide will allow Seward Wyon to bring their extensive experience to larger and more ambitious projects that were previously out of reach.”
Les Keeler, managing director of Seward Wyon, said: “The enhanced capabilities that we will gain by joining the AIG family of businesses will allow us to provide even better support to our existing customers, as well as to target new parts of the market where the backing of a larger business structure is almost a requirement for entry.”