Aberdeen equipment rental specialist First Integrated Solutions has sealed a seven-figure deal to buy Tusk Lifting.
The acquisition which will see it expand into Middlesborough, Liverpool, Hull and Glasgow, extending its services across multiple sectors.
The firm picked up the business from heavy lift specialist Mammoet, part of the Dutch conglomerate SHV Holdings, which also owns retail chain Makro.
The combined business will have a turnover of nearly £20 million and employ around 125 people across its five sites.
Its joint customer-base will span the construction, manufacturing, oil and gas and renewable energy sectors.
All Tusk Lifting staff have transferred over to First Integrated Solutions.
The business is looking to invest an additional £3m over the next five years to ensure it offers “the best and safest equipment at the most competitive rates”.
‘Fantastic’ platform to grow
First Integrated Solutions, which is owned by oil tycoon Ian Suttie, reported an £11.7m turnover and a £880,000 pre-tax profit in the year ended 30 April 2023, according to accounts posted at Companies House.
Martin Suttie, First Integrated Solutions managing director, said: “First Integrated has been successful at growing its market share in Aberdeen through continual investment in new equipment and the hard work of our dedicated team.
“By coming together with Tusk Lifting, we will now be able to grow our market share throughout the UK and this deal allows us to diversify the industries which we serve.
“It also brings additional services to Tusk, allowing it build on its industry-leading lifting business.
“We already share a number of customers throughout the UK and this deal gives us a fantastic platform to grow our market share across multiple sectors throughout the UK.”
Latest deal for First Integrated Solutions
First Integrated Solutions, established in Aberdeen’s Bridge of Don in 1997, provides safety-critical services to the energy sector, including lifting equipment, inspection, and equipment sale and rental.
Tusk Lifting managing director Kevin Chalmers said: “This partnership will enable us to innovate faster, serve our clients better and expand our horizons.”
The Tusk deal is the second merger by fast-growing First Integrated Solutions in just 18-months and follows a deal to acquire Aberdeen-based North Sea Compactors last year.
North Sea Compactors, founded in 1983, manufactures its own design of heavy-duty, large-capacity, fully pneumatic offshore waste compactors.
