AN offshore paintings and coatings business hopes to grow its £20m turnover after buying the insulation and architectural services arm of ARC Industrial Services.
Wallsend-based Barrier Group is looking to expand its portfolio of services to the energy and marine sectors in both the North Sea and further afield.
The business will trade as Barrier Architectural Services and will continue to offer its services for the offshore industry.
The division was formed in 2011 by former McGill and Hertel Technical Services directors Tony Scott and Graham Fuller. The pair, along with the company’s other staff, will remain with the business, operating from its base in Middlesbrough.
In its short history, the business has managed and completed a range of projects for customers, including BAE Systems, SSI UK and SLP Engineering.
The newly-acquired business will also continue to work closely with ARC Industrial Services, which provides scaffolding and crane access services, plus project management support.
Barrier Group, which employs 200 people, is a specialist in the field of corrosion and fire protection in offshore, petrochemical and construction projects.
The acquisition of this business will complement its existing industrial painting services, specialist coatings and fire protection and offer a more comprehensive portfolio of products and services to customers.
Robert Bowles, managing director of Barrier, said: “We wanted to expand our range of services as a lot of our competitors were picking up work that we could have secured if we’d had the insulation and architectural service in place.
“Our three principal contracts are based in the North East but we’d like to expand our offering further into West Africa and the Middle East. Oil and gas has been a very cyclical industry. For instance, last year wasn’t a very good year for us, but the year before was.
“The price of oil and gas is buoyant and we’re looking to a very good 12 months ahead. I’d be surprised if we didn’t turn over in the region of £20m this year and we’re looking to up that next year with this latest acquisition.”
The company is also looking to build a new £1m factory close to its existing Wallsend site. The proposed 2,400sqm factory will accommodate workshops for the new industrial and architectural side of the business and building will start in the next six months if planning is approved.
Tony Scott said: “Our existing customers will not only continue to benefit from the same quality services delivered by our existing project team, but also have access to a wider range of products and services through the Barrier Group, which will enable us to provide a more integrated subcontracting offering.”