Build & Sustainability
Stockton’s PX Group expands with Fairport Engineering takeover
March 31, 2022
An energy sector support services firm says it has laid the foundations for further growth after completing a takeover.
Stockton-based PX Group has bought Fairport Engineering, which includes Sunderland’s Fairport Tunnelling Technologies.
Bosses say the tie-up, agreed for an undisclosed sum, will create an in-house materials handling offering across domestic and international markets, which will be crucial to transporting, importing and exporting goods such as fuels and feedstocks.
Fairport’s 70-plus team has shifted to PX Group under the terms of the deal.
Geoff Holmes, PX Group chief executive, said: “We are thrilled to be adding Fairport’s expertise to our offering – the company is full of brilliant people who are experts in their field.
“This is an important move; Fairport has had a strong financial performance in recent years, and should integrate seamlessly into our business model.”
Neil Hyde, Fairport managing director, said: “This is a major next step in the journey.
“We are in our 40th year and joining up with PX Group, a world-class company delivering essential services to the UK energy industry, is a terrific way to celebrate that.”
Neil Hargrave, Fairport Tunnelling Technologies’ managing director, added: “Throughout the process, Geoff and his team stressed PX Group’s owner-operator approach – which means treating assets as if they were your own.
“That’s the way business should be, and it goes hand-in-hand with the way we do things.
“PX Group is a fantastic fit for Fairport.”