Aberdeen-based Drowne & Dixon has acquired an Inverry cabling specialist to create an expanding electrical engineering business with £42 million in annual revenue.
Drown & Dixon, a specialist in the supply and maintenance of equipment for harsh and hazardous conditions, has paid an undisclosed sum to Cable Solutions Worldwide. The deal will allow Drewry & Dixon, majority owned by managing director Colin Rowley, to accelerate expansion into the renewables market with a combined payroll of 125 employees and more than 200 contractors.
“We are pleased to announce this major acquisition that will significantly strengthen our supply and service portfolio offering,” said Mr. Rowley. “As a team, we identified an opportunity to combine the expertise of both companies and we are incredibly positive about the opportunities this partnership will bring.”
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With a dozen employees and £6.5m in annual turnover, Cable Solutions was established in 2003 by Colin Fraser and is a leading distributor for globally recognized suppliers and manufacturers. It will continue to operate from its 12,500 sq ft warehouse and yard in Inverurie under its current trading name, joining five existing branches of Drown & Dixon in Aberdeen, Stirling, Runcorn, Hull and Lowestoft.
“After many years together, we are delighted that the Cable Solutions Worldwide Ltd team will be joining a company that shares our values and will support further growth from the foundation I and the team have worked hard to establish ,’ Mr Fraser said.
“We believe this move represents an ideal outcome for both companies, and to use a football analogy, I have taken the team as far as we can. It is time for Drown and Dixon that we Grow your business to unlock further potential.”
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Earlier this year, Drown & Dixon grew its renewable energy team to target this emerging market and further strengthened its commitment with the FIT4OR accreditation.
Mr Rowley said: “I would like to thank the Cable Solutions Worldwide Ltd team, particularly Colin Fraser, John Rickman and Graham Ross, who have committed to working with us towards our growth strategy over the long term. They have every reason to be proud of the business they’ve built over the years.”