Avenium Engineering acquires one of its counterparts
20 May 2020
Middlesbrough-based Avenium Engineering has completed the acquisition of one of its counterparts as part of continued plans for growth.
S R Engineering, which was founded in 1990, provides precision engineering services and products across a range of heavy industry sectors.
Avenium, which specialises in the supply of process plant equipment and services, completed the deal after managing director Greg Hynes was introduced to S R's Steve Rusinek by Clive Owen corporate finance director David Wilson. Wilson previously acted for Hynes during the management buyout of Avenium.
Hynes said: "S R Engineering is a great strategic fit with Avenium Engineering as it not only expands our product and service offering, it also integrates services into Avenium that otherwise would have been outsourced.”
"They have grown a very solid and successful engineering company, and I am very much looking forward to developing the business in the future. I’m confident that the growth of both organisations will help to cement Teesside’s reputation as one of the UK’s leading industry hubs."
Wilson added: "As a valued client of our firm, we look forward to working with Greg and the Avenium team in this exciting stage in their ongoing development."
Now that the deal is completed, Rusinek will remain at S R Engineering as a consultant.