This asset purchase, coupled with the majority acquisition of Thermoplant Offshore Services Limited (TOSL) in 2019, means that Wozair and its partners can together provide an unrivalled service of specialist ventilation equipment to the energy and marine industries on a worldwide basis with reduced competition in the market.
Two of the Directors of TOSL, Tony Williams and Kevin Atkinson, assisted greatly in the restructure and continue to uphold the day-to-day running of the business, as well as organising staff, services and procurement activities after the acquisition.
Furthermore, the actual asset purchase was completed in record time with the help of the two main shareholders of Wozair, Simon Collins and Paul Azzopardi, their in-depth industry knowledge and over 50-years' combined experience in this very specialised HVAC field proving useful in negotiating, funding and concluding the purchase quickly so as to minimise disruption.
NSV & AC has re-employed around 20 staff and successfully turned £1.5 million of work-in-progress into complete projects for customers.
The combined shareholders of the newly formed company are beyond excited to start forging a new era of stability, growth and expansion from this point onwards, stating: 'We think we all feel a great sense of optimism and enthusiasm working together to achieve this, particularly in the expanding energy and marine HVAC markets. This will also bring with it scope and opportunity for advancement of staff within the companies.'
Wozair has hit the ground running in its goal to reach ever greater growth and is in the process of securing new and improved premises for the relocation of the NSV & AC business by the end of December 2022. By bringing all parts of the business in close proximity, resources can be shared and optimised whilst still retaining TOSL and NSV's individual identities, brands, histories and expertise.