Fastflow Group’s Workforce Expanded
Published on by Water Network Research, Official research team of The Water Network in Business
Utilities Infrastructure Company Has Broadened its Expertise with the Acquisition of DW Contractors
The water and gas pipeline specialist, which has its headquarters in Washington, Tyne and Wear added the Oxford based property maintenance and refurbishment business to its operation for an undisclosed sum.
All the staff will transfer to Fastflow which plans to put in place an investment and development strategy which will create more jobs and opportunities. As a well known and well respected company DW Contractors will not change its name.
Fastflow CEO and owner, Neil Armstrong, said of the deal: "This provides us with an excellent opportunity to diversify and grow our business. While the work undertaken by Fastflow in the utility sector is quite different, the two organisations are founded on very similar principles and employ similar working practices, making this deal a great fit.
It is my belief that both organisations will learn from each other to become even stronger players in their sectors. "
David Exley, who founded DW Contractors in 1986 and has grown it to become a £25 million turnover operation, added: "It has been a tough decision to make but I think it is the right time for me to move on and I know I am leaving the business and the team in excellent hands.
The enhanced group will employ over 600 people and is forecast to turn over approximately £60 million in the current financial year.
DW Contractors - which also has depots in London and Reading - provides property maintenance, repair and refurbishment services for housing associations, London councils, government agencies, management companies, schools, universities and NHS trusts.
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