Wolviston acquires its competitor

Stockton-based Wolviston Group has bought YOH UK Staffing Solutions, the UK arm of the US-based YOH group - and is eyeing up at least three further takeovers.

The takeover will add £3.5m a year to Wolviston's £22m turnover.

Robin Davison, managing director of Wolviston, said the latest acquisition would give it a foothold in the nuclear, healthcare and pharmaceutical industries. He added that three major contracts, worth almost £2m, were in the pipeline, so turnover could reach at least £27m next year.

The Wolviston Group now has 1,047 employees, and a further 22,000 staff ranging from security staff to geophysicists on its books.

It supplies manpower to customers such as Shell, DuPont and Huntsman.

YOH's UK recruitment and employment activities will now operate from Wolviston's head office in Stockton.

As a specialist recruitment agency, Wolviston has a long history as a supplier, consultant and contractor to a large number of major oil and gas companies in the UK and overseas.

Mr Davison said: "We are delighted to announce the acquisition of YOH UK Staffing Solutions Ltd, which will help to enhance and expand the services that we currently provide.

"We are looking at another three possible acquisitions. We have been growing rapidly in the past two years but there is only so far you can grow organically. At some point, you need to start acquiring companies to help gain a foothold in new markets and grow the business.

"We are looking at other strategic acquisitions as well. Obviously, we can't give any details about those at the moment, but there are three we are looking at now."

Wolviston is a member of the Tees Valley Engineering Partnership, which helped it with the acquisition.

Mr Davison said: "It is through similar acquisitions, strategic improvements, and continued support from our customers and the Tees Valley Engineering Partnership, that we will be able to move the business forward."