The privately-funded deal for 316 Engineering is the eighth acquisition by the group in recent years, which is led by managing director Peter Dodd - himself a qualified mechanical engineer.
Employing 40 skilled engineers, 316 Engineering provides design, fabrication and finishing services on projects across the UK and employs 40 people at its Roundhouse Close headquarters.
Originally an owner managed business, it was established in 2002 and has grown from a team of 6 (a large proportion of whom remain with the firm to this day).
The new management team will be led by Michael Donachie who is also general manager at Go2 Engineering Group’s Gateshead-based steel fit-out specialist firm Tech Projects and Clyde Stratton who rejoins the team.
Dodd said: "I am proud to be able to announce that 316 Engineering is the latest addition to the Go2 Engineering Group, or “family” as we prefer to think about it.
"They are a perfect fit in terms of our existing portfolio of partners which allows us to form specialist project teams, drawing on the complementary skills we have across the wider group. I am also especially pleased to have Michael and Clyde leading the team during this period of transition. They are both highly skilled engineers and leaders which is exactly what we want as 316 Engineering gears up for growth."
Whilst much of the UK’s engineering and manufacturing sector has inevitably struggled through the pandemic and Brexit, 316 Engineering has performed well, with their food processing machinery driving growth that has meant that no furloughs have been necessary.
Donachie added: "We are delighted to become part of the Go2 Engineering Group to offer our specialist skills where we can to the larger organisation on major projects and as we grow as a business in our own right.
"Brexit has not impacted us in perhaps the way that might have been expected and we are already looking to make major investments here in terms of machinery and personnel. We want to be the “go-to employer in the Peterborough area for steel fabrication and expect to announce new roles in the coming weeks, as well as a major investment in our vital apprenticeship programme. These are exciting times for the business and the group and we look forward to the journey together."
Dodd concluded: "Our aim is to continue growing organically as a group and via further acquisitions to constantly expand our capabilities. We expect to announce further developments to strengthen the group’s offering in the coming months."
