Azets advises on sale of Wescott Group to Coriant
Wescott Group has joined Coriant’s growing industrial services platform. The deal was supported by advice from Azets, who consulted the sell-side shareholders throughout the sale.
With more than 100 staff across the North of England, Wescott Group is a specialist provider of coatings, rope access, fire protection and asset integrity services. Servicing clients in the UK and numerous international markets, from its foundations as an industrial coatings and access services provider, Wescott has developed strong expertise across the renewables, defence, marine, petrochemical and infrastructure sectors.
The transaction sees two highly regarded specialist businesses become part of the Coriant group: Jarrow-based Wescott Industrial Services, with 30 staff, providing specialist industrial coatings, fire protection and industrial maintenance services, and Hull-based SGS, a 70-strong specialist access solutions provider serving complex industrial environments.
James Salkeld, managing director at SGS, commented, “SGS has grown into a well-respected and capable business, and this transaction marks an exciting new chapter. Coriant offers a strong platform to build upon our existing strengths while unlocking new opportunities across a broader client base. We are confident this partnership will drive continued success and deliver long-term value for all stakeholders.”
The acquisition further strengthens Coriant’s national footprint and technical capabilities across critical infrastructure, industrial processing, energy and defence-related markets, whilst providing both businesses with access to a larger platform, enhanced resources and long-term investment support.
Mark Duffy, managing director of the Wescott Group, added, “We are incredibly proud of what the Wescott Group has achieved over the years, building a strong reputation for quality and delivery across our sectors. Partnering with Coriant represents the right strategic step for the business, providing the scale, capability and vision to accelerate our growth. I am confident that this next phase will create significant opportunities for our people and clients, and I look forward to seeing the business continue to develop as part of the wider group.”
The acquisition of Westcott follows rapid recent growth at Coriant. Coriant was incorporated as an independent company in 2013 as a spin-out from Siemens Optical Networks, but is now backed by HIG Capital. With the private equity support, the platform now brings together Rainham, Zenith and TEi alongside the more recent acquisitions of CVS and SCA to form a family of industrial services providers operating under their own recognisable brands. Wescott will similarly continue to operate under its established brand, maintaining the reputation, technical expertise, and strong customer relationships it has built over many years.
Azets Corporate Finance advised the shareholders of Wescott Group on its sale to Coriant. The consultancy also advised on the acquisition of SCA earlier this year.
Lee Humble, UK head of corporate finance at Azets, noted, “Wescott Industrial Services and SGS have built exceptional reputations within their respective markets and have established long-standing relationships with customers operating in some of the UK’s most demanding industrial environments. Coriant has rapidly emerged as a highly credible platform within the sector. The addition of Wescott Industrial Services and SGS further enhances the group’s capabilities and creates exciting opportunities for customers, employees and stakeholders alike. We are delighted to have supported the shareholders throughout this process and to have secured a transaction that delivers a strong strategic outcome for all parties.”
