A manufacturer and supplier of heating, ventilation and air conditioning (HVAC) equipment has completed an acquisition of a counterpart.
Gillingham-based Wozair Energy Holdings, a manufacturer of HVAC equipment for the energy and marine industries, has acquired North Sea Ventilation and Air Conditioning Ltd (NSV & AC).
North Sea Ventilation and Air Conditioning is a specialist supplier of HVAC and refrigeration equipment and systems. The Hull-based business was originally formed to serve North Sea oil and gas industries.
The assets purchase follows on from the majority acquisition of Thermoplant Offshore Services Ltd (TOSL) in 2019.
Two of the directors of TOSL, Tony Williams and Kevin Atkinson, assisted in the restructure and will continue to manage the day-to-day running of the business, as well as organising staff, services and procurement activities after the acquisition.
NSV & AC has re-employed about 20 staff and successfully turned £1.5m of work-in-progress into complete projects for customers.
The combined shareholders of the newly formed company said: “We think we all feel a great sense of optimism and enthusiasm working together to achieve this, particularly in the expanding energy and marine HVAC markets. This will also bring with it scope and opportunity for advancement of staff within the companies.”
Wozair is in the process of securing new premises for the relocation of the NSV & AC business by the end of December 2022. The move will mean resources can be shared and optimised while still retaining TOSL and NSV’s individual identities, brands, histories and expertise.
