British firm buys Pipe Coil

By Bill Bregar
Senior Staff Reporter

Published: October 15, 2013 2:47 pm ET
Updated: October 15, 2013 2:53 pm ET

Related to this story

Topics Mergers & Acquisitions, Machinery, K 2013, Business News & Features

DÜSSELDORF, GERMANY — Reece Group Ltd., a British holding company that has businesses in defense and road construction, and diversified into the energy sector in 2012, has made another move in that direction by purchasing Pipe Coil Technology Ltd., based in Newcastle, England.

Pipe Coil Technology (Hall 11/B64) is exhibiting at K 2013 in Düsseldorf.

Pipe Coil Technology makes automated coiling, packaging and handling equipment for flexible pipe and tubing, conduit and hose. Applications include pipe for gas, water, sewer, plumbing and drainage; tubing for irrigation, medical and automotive; garden and industrial hose; and electrical conduit.

In 2010, PCT opened a factory in Highland Heights, Ohio, near Cleveland, to meet demand for high-speed coiling of high density polyethylene pipe in the booming U.S. shale drilling sector for oil and natural gas.

Pipe Coil Technology employs 40 people and generates sales of more than £6 million.

After the acquisition, Reece Group, also based in Newcastle, will employ more than 500 people and generate sales of £100 million from its five companies. Terms were not disclosed.

Gordon Fiddes, PCT’s managing director, will remain with the winding-machinery business. “We are looking to working with the Reese Group and taking the business forward, in particular in the export market, where Reece Group has had considerable experience and success,” Fiddes said in a press release announcing the deal on Oct. 8, a week before the K show.

Phil Kite, the Reece Group CEO responsible for acquisitions, said Reece wants to broaden its product scope. “Our goal is to create a more broadly based engineering business which is less dependent on defense, with strength in the oil and gas, construction and subsea markets,” he said in the release.

Over the past 18 months, Reece has purchased three companies. The others are a business that specializes in pothole repair on highways and Responsive Engineering Group, which does contract manufacturing in the energy and undersea markets.

“Pipe Coil Technology adds a third product company to our business, enabling us to explore another new market,” said Reece Group Chairman John Reece.

Reece Group was founded in 1980 by John Reece and his father, Alan Reece, who taught engineering at Newcastle University.


Comments

British firm buys Pipe Coil

By Bill Bregar
Senior Staff Reporter

Published: October 15, 2013 2:47 pm ET
Updated: October 15, 2013 2:53 pm ET

Post Your Comments


Back to story


More stories

Image

RPC Group buying Iceland's Promens

November 27, 2014 8:46 am ET

In a major acquisition that combines two rigid packaging companies with international footprints, RPC Group plc has signed a 399 million euro ($497...    More

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

2014 US machinery shipments up 6 percent

November 25, 2014 5:17 pm ET

Through the first nine months of 2014 U.S. shipments of primary plastics equipment — for injection molding, blow molding and extrusion —...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013, an...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events