The deal will see 42 Technology continue to operate under its own brand
Alex Lamb, chairman British Engines Group (left) and Jon Spratley, CEO of 42 Technology.(Image: Gavin Forster Photography)
Tyneside engineering business British Engines has acquired a Cambridge-based consultancy, taking the group to nine companies.
The Newcastle-based maker of specialised industrial equipment such as high press valves and hydraulic motors has bought 42 Technology Group, a £10m turnover specialist in product development working across the energy, medtech and industrial sectors. The undisclosed deal brings the 25 year-old firm, which employs 53 people, under the British Engines group, which also includes firms such as BEL Valves, CMP and Rotary Power.
Following the deal, 42 Technology will continue to operate as an independent consultancy under its own brand with its current leadership team in place. British Engines Group says it is committed to the firm’s independence and in “protecting 42T’s position as a trusted partner to some of the world’s best known brands, as well as many ambitious start-ups and SMEs”.
The group says the deal will allow 42T to pursue larger and more ambitious projects, supported by British Engine’s global reach and investment capacity. The latest available accounts for 42 Technology Group Limited, covering 2024, show the business generated operating profit of nearly £848,000 on turnover of £10.8m from clients in the UK, Europe and the US.
Dr Jon Spratley, CEO of 42 Technology said: “Joining British Engines Group will help power 42T’s future growth and allow us to build on the strong foundations we already have as a company. It’s a major step forward for our business, but we will continue operating exactly as before and nothing will change day-to-day for our clients, strategic partners, internal team or suppliers.”
Alex Lamb, chairman of British Engines Group said: “42 Technology brings a highly complementary set of strengths into British Engines Group. Their consultancy expertise, front-end innovation, and strong track record in solving complex, multi-disciplinary problems make them the ideal strategic fit for our group.
“The acquisition will give British Engines access to 42T’s significant expertise in industrial edge AI, sensing, automation and intelligent systems, which aligns with our long-term ambitions. These capabilities will be invaluable for other companies within the group that are continuously looking to improve on their world class manufacturing processes.”
Earlier this year, British Engines lodged plans to develop a derelict plot on the Parsons Works site in Byker. The 1,600-strong business is hoping to build a factory on the Shields Road site, which had been part of the neighbouring Siemens Energy plant but has been vacant since about 2009.
In documents sent to Newcastle City Council, British Engines set out how it wants to create a three-storey office unit alongside two smaller factory buildings. The group had previously scrapped plans to build on Shields Road.