TWO companies specialising in mechanical and electrical engineering for the power, oil and gas, refining, chemical and renewable energy sectors, have merged to form ENEX Group.
The merged companies, mechanical engineers Flow Matters and electrical contractors Technical Ex Services have now relocated to larger premises at Port Clarence Offshore Base by the River Tees in Middlesbrough.
The merger was brokered by Nigel Williams from the Teesside office of Newcastle-based law firm Dickinson Dees, and by Angus Allan of Clive Owen Corporate Finance.
Dickinson Dees advised on the legal structure of the merger, which was a 50/50 split between Flow Matters and Technical Ex Services, while Clive Owen advised on the financial structure, valuations and provided taxation advice.
Nigel Williams of Dickinson Dees said: “We were especially pleased that our work on the ENEX Group merger came to us on recommendation from another local business, which our energy team had previously advised. The merger was a genuine 50/50 partnership, and both parties were keen to get the deal done so they could crack on with growing the business.
“We were delighted to assist and we look forward to helping grow the business into the powerful regional, national and international player it aspires to be.”
Angus Allan, partner at Clive Owen Corporate Finance said: “It was immediately evident that by combining the two businesses, new larger opportunities could be successfully tendered for and delivered.”
Wayne Hodgson, managing director of ENEX and former head of Flow Matters, said: “This is a very important move for us. Our previous two companies offered complementary services and it made perfect sense to merge and share our resources to provide a multi discipline turn-key solutions provider to our national offshore and onshore clients.”
Dave Jackson, contracts director of ENEX Group and former head of Technical Ex Services (UK), said: “We have been very busy indeed since the merger and business is thriving. ENEX aims to be the first choice business for integrated solutions across multiple market sectors.”
They thanked Dickinson Dees and Clive Owen & Co, adding: “They orchestrated the merger, worked diligently on our behalf and ensured that everything happened seamlessly.”